European markets closed higher Thursday, rounding off a bumper month as investors assessed euro zone inflation data that suggests pressures from rising prices are easing.
The regional Stoxx 600 closed up 0.5% at a 10-week high.
It takes gains for the index to 5.87% for November, according to LSEG data, its best performance since January and a sharp reversal from three consecutive monthly losses.
European markets
U.S. stocks have also seen a turnaround in November, typically a strong month for equity markets, and are heading for their best month of the year.
Market sentiment has been boosted by expectations of interest rate cuts in major economies next year, as inflation continues to fall. Global stocks are set to mark their best month for three years, Reuters reported, citing MSCI's world stocks index.
Euro zone inflation came in at 2.4% on an annual basis in November, according to preliminary Eurostat data, lower than the 2.7% expected by analysts surveyed by Reuters and a decline from October's reading of 2.9%.
In the U.S., the personal consumption expenditures price index — the Federal Reserve's favored gauge — was in line with expectations at 0.2% for the month and 3.5% year-on-year.
Bonds have also marked a turnaround by rallying in November. Yields, which move inversely to prices, have tumbled in the U.S. and Europe amid perceptions of increased dovishness among central bankers and signs of a "soft landing" for the U.S. and global economy.
Oil and gas stocks were last up by around 1%, as investors await announcements from the OPEC meeting on Thursday. Production cuts are expected at the policy meeting, which is being attended by members of the Organization of Petroleum Exporting Countries and its allies, including Russia.