Europe Asia News

According to analysts, futures linked to the FTSE 100 were last up 0.3 percent, while the DAX and CAC 40 each rose 0.6 percent. Markets moved higher on Wednesday, supported by apparel companies that helped lift the pan-European Stoxx 600 index.

As Russia–Ukraine peace negotiations continue, the head of Ukraine’s National Security Council, Rustem Umerov, is expected to meet U.S. Special Envoy Steve Witkoff in Miami on Thursday. The meeting comes after talks between Russia and the United States on Tuesday ended without a breakthrough.

French President Emmanuel Macron is in Beijing on Thursday to meet Chinese President Xi Jinping. The French leader is expected to urge his Chinese counterpart to engage in greater cooperation to help resolve the Ukraine issue.

This development follows efforts by the European Union to use frozen Russian assets as a form of “compensation credit” for Ukraine, although similar attempts have been blocked in the past.

On the currency front, the euro climbed on Wednesday to 1.167 against the dollar, its highest level in seven weeks. Although the dollar has shown some stabilization in the second half of the year, it continues to weaken. A raft of data is due today, including Europe’s HCOB Construction PMI and retail sales, as well as U.K. car sales.

Asia-Pacific markets traded mostly higher on Thursday as global investors awaited the U.S. Federal Reserve’s interest rate decision on December 10.

According to the CME FedWatch tool, markets are pricing in around an 89 percent chance of a rate cut at the upcoming meeting, a significantly higher probability than in mid-November.

In the United States, stock futures showed little movement on Wednesday night. Dow Jones Industrial Average futures rose 65 points, or about 0.14 percent. S&P futures were flat, while Nasdaq 100 futures slipped by less than 0.1 percent.

Zara’s parent company, Inditex, led the index higher after reporting strong nine-month results, closing the session up 10 percent. Hugo Boss, by contrast, fell by the same amount after lowering its guidance.

Volvo Cars said on Wednesday that its November sales fell 10 percent year-on-year. The company, which sold 60,244 vehicles during the month, recorded growth only in its fully electric models.

Chief Commercial Officer Erik Severinson described the performance as “encouraging,” despite U.S. sales remaining “sluggish” following the removal of tax credits for electric vehicles.

While Wall Street gained on hopes that the Federal Reserve could cut rates next week after weaker-than-expected employment data, Asia-Pacific markets were mixed on Thursday.

Analysts say markets are pricing in an 89 percent probability of a rate cut at the Fed’s December 9–10 meeting, a level notably higher than expectations just a few weeks ago.

Japan’s Nikkei 225 index climbed 1.29 percent, and the Topix index rose 1.32 percent. Among the top gainers was Renesas Electronics, whose shares advanced more than 6 percent after reports that California-based semiconductor firm SiTime Corp was in talks to acquire the Japanese chipmaker’s timing unit. The deal could be worth up to 2 billion dollars, including debt, according to reports.

South Korea’s Kospi index fell 0.82 percent, and the small-cap Kosdaq retreated 0.36 percent. Australia’s ASX/S&P 200 index was little changed. Hong Kong’s Hang Seng index slipped 0.11 percent, while the CSI 300 in mainland China added 0.23 percent. India’s Nifty 50 opened flat, and the BSE Sensex index edged down 0.14 percent.