European Shares Pause as Puma Leaps Amid Takeover Speculations

European shares were subdued on Thursday after a successful three-day rally, with attention on a potential Fed rate cut next month. Puma shares jumped following takeover rumors. European markets paused amid positive economic sentiment and potential progress in Russia-Ukraine peace talks, with the U.S. on Thanksgiving break.

European shares took a breather on Thursday following a stretch of gains driven by optimism over a possible Federal Reserve interest rate cut. Notably, Puma shares soared after reports of potential takeover interest emerged.

The pan-European STOXX 600 index saw a modest drop of 0.2% to 572.97 points, reaching roughly one-week highs. London's FTSE 100 declined by the same margin post-budget announcement, while Germany's DAX remained steady.

Adding to the week's positive market sentiment, progress in negotiations for a Russia-Ukraine peace deal contributed to the gains. With U.S. markets closed for Thanksgiving, anticipation builds for insights from the latest European Central Bank meeting minutes.

(With inputs from agencies.)