{"id":53657,"date":"2024-12-06T09:45:17","date_gmt":"2024-12-06T09:45:17","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/12\/06\/european-shares-extend-gains-on-french-budget-optimism\/"},"modified":"2024-12-06T09:45:17","modified_gmt":"2024-12-06T09:45:17","slug":"european-shares-extend-gains-on-french-budget-optimism","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/12\/06\/european-shares-extend-gains-on-french-budget-optimism\/","title":{"rendered":"European Shares Extend Gains On French Budget Optimism"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> European stocks traded higher for a seventh straight session on Friday amid optimism that a new French budget could be passed within a matter of weeks.<\/p>\n<p>French President Emmanuel Macron said he will appoint a new prime minister in the coming days and will get the 2025 budget adopted by parliament.<\/p>\n<p>Meanwhile, investors also awaited the release of U.S. payrolls data later in the day that could alter the odds of a Federal Reserve rate cut later this month.<\/p>\n<p>Closer home, Germany&#8217;s industrial output decreased unexpectedly in October on weak energy and auto production, official data revealed.<\/p>\n<p>Industrial output registered a 1.0 percent decrease in October, data from Destatis showed &#8211; darkening economic outlook. The decline confounded expectations for an increase of 1.0 percent. <\/p>\n<p>On a yearly basis, industrial production slid 4.5 percent after a 4.3 percent fall.<\/p>\n<p>Elsewhere, Halifax reported that Britain&#8217;s property sector gathered more pace in November, with house prices rising by a faster-than-expected 1.3 percent in November from October, the biggest increase this year.<\/p>\n<p>On an annual basis property prices were up 4.8 percent, the highest rate of increase since November 2022.<\/p>\n<p>The European Central Bank (ECB) meets next Thursday for the last time in 2024 and economists overwhelmingly expect another 25-basis-point rate cut &#8211; which would be the fourth such move this year.<\/p>\n<p>The pan European STOXX 600 was up 0.2 percent at 520.60 after rising 0.4 percent on Thursday. <\/p>\n<p>The German DAX gained 0.2 percent and France&#8217;s CAC 40 rallied 1 percent while the U.K.&#8217;s FTSE 100 was marginally lower. <\/p>\n<p>In corporate news, Direct Line Insurance shares jumped nearly 7 percent in London. <\/p>\n<p>The Insurer said it will recommend a sweetened \u00a33.61 billion takeover bid from Aviva, valuing the company at 275 pence per share. Aviva shares were down half a percent.<\/p>\n<p>Housebuilder Berkeley Group fell 1.4 percent after reporting a fall in half-year profits. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>European Shares Extend Gains On French Budget Optimism<\/a><br \/>\n<br \/>2024-12-06 09:45:17<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European stocks traded higher for a seventh straight session on Friday amid optimism that a new French budget could be passed within a matter of weeks. French President Emmanuel Macron&#8230;<\/p>\n","protected":false},"author":2,"featured_media":53658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-53657","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-euro-markets"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53657"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53658"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}