European Markets Steady Amid Takeover Buzz and Rate Cut Hopes

European shares remained largely steady amid hopes for a U.S. interest rate cut and takeover interest in key companies. Puma jumped on takeover reports, boosting the STOXX 600 index, while Allfunds Group saw a record climb after entering exclusive talks for acquisition. Mixed performances were observed among regional bourses.

European shares held steady on Thursday, following a series of gains spurred by optimism regarding a potential U.S. interest rate cut. Key highlights included Puma's significant jump on takeover interest and Allfunds Group's record climb due to acquisition talks.

The pan-European STOXX 600 index closed 0.12% higher at 574.89, a peak not seen in nearly two weeks. Regional markets showed mixed results; London's FTSE 100 remained unchanged post-budget announcement, and Germany's DAX inched up 0.2%.

Traders experienced lighter volumes due to the Thanksgiving holiday in the U.S. Speculation of a ceasefire in Ukraine also contributed to the positive market sentiment, although shares remain below their recent all-time highs.

(With inputs from agencies.)