Puma surges 14% on takeover buzz while global investors brace for December’s pivotal Fed meeting
MARKET INSIDER – European markets opened cautiously higher on Thursday, extending a week of broad global gains as investors bet that the U.S. Federal Reserve is finally preparing to cut interest rates. The Stoxx 600 edged up after a brief dip at the open, mirroring Wall Street’s four-day winning streak and Asia’s overnight rally — all fueled by rising confidence that monetary easing is imminent.
The Fed now dominates the global narrative. Traders are pricing in an 84.9% probability of a rate cut at the December 9–10 meeting, according to CME FedWatch, a shift that has injected fresh momentum into both European and U.S. equities. The prospect of cheaper capital is especially meaningful for the region’s growth-sensitive sectors, from luxury goods to industrials, which have been under pressure throughout 2025.
One major corporate story electrified European markets: German sportswear giant Puma jumped more than 14% after Bloomberg reported that Chinese athletic powerhouse Anta Sports is exploring a takeover bid. While Puma declined to comment, mounting buyout speculation instantly made it the top performer on the Stoxx 600 and reignited debate over China’s growing appetite for European consumer brands.
Defense names were also active as geopolitical negotiations over the Russia-Ukraine conflict continue in Washington. Shares of Rheinmetall and Saab rose over 1.5% as markets weighed the potential impact of any breakthrough — or breakdown — in peace efforts on Europe’s security and spending priorities.
With U.S. markets closed for Thanksgiving and only limited European data on deck — including Germany’s GfK consumer confidence survey and EU sentiment readings — traders are positioning ahead of what could be one of the most consequential Fed decisions in years.
If the December meeting confirms a pivot toward easing, Europe’s markets may find themselves at the start of a broader re-rating cycle. If not, today’s cautious optimism could evaporate just as quickly as it arrived.
