FX.co ★ European Stocks Set to End November Little Changed

As November came to a close with its usual market volatility, both the STOXX 50 and the STOXX 600 indices lingered near the unchanged mark, signaling the waning of the recent surge in global equities. Investors remain on the lookout for new developments to guide market movements. On the economic data front, France's inflation rate remained unexpectedly steady at 0.9%, while Spain's rate decreased to 3%, reinforcing the anticipation that the European Central Bank will likely maintain its current monetary policy. In the markets, LVMH rose by 0.5%, Shell by 0.7%, Siemens by 0.3%, Inditex by 0.2%, and Schneider Electric by 0.3%. Conversely, Nestlé saw a decline of 0.4%, Hermès fell by 0.2%, and EssilorLuxottica dropped by 1.3%. Over the month, the STOXX 50 experienced a slight decrease of 0.2%, while the STOXX 600 increased by 0.5%. This period was characterized by mounting concerns over the lofty valuations of AI-related stocks and increased speculation about a potential Federal Reserve rate cut in the upcoming month.