This is CNBC's live blog covering European markets.

European markets are expected to open higher Thursday, rallying after being in the doldrums yesterday.

The U.K.'s FTSE 100 index is expected to open 16 points higher at 8,291, Germany's DAX up 72 points at 19,334, France's CAC up 30 points at 7,173 and Italy's FTSE MIB up 98 points at 33,310, according to data from IG.

There are no major earnings Thursday, but data releases include Spanish and German inflation and European economic sentiment figures. Italian and Spanish business confidence data is also due.

It'll be a quieter day globally with U.S. markets closed for Thanksgiving; U.S. stocks fell in light trading on Wednesday ahead of the holiday.

Asia-Pacific markets traded mixed overnight as investors assessed a surprise interest rate cut by South Korea.

UK consumer confidence 'remains weak,' retail trade group says

U.K. consumer confidence remains weak in the aftermath of the Labour government's landmark first budget in October, according to a November survey by the British Retail Consortium.

A BRC-Opinium poll found opinions on the state of the economy worsened slightly, while people's assessment of their own finances improved slightly. Personal spending held steady on October.

"There was little shift in consumer confidence since the Chancellor's Budget, with many worried about the economy in the lead up to Christmas," BRC Chief Executive Helen Dickinson said.

"The last month clearly did little to shift the dial for households either positively or negatively, however, the same cannot be said for the retail industry. With over £7 billion in additional costs in 2025 resulting from the Budget, retailers will have little choice but to raise prices or reduce investment in jobs and shops."

Sweeping reforms announced by Labour have sparked a largely negative reaction from the U.K. business community, who argue that higher taxes and upcoming changes to employment rights have put a strain on employers.

— Jenni Reid

Remy Cointreau profit falls less than expected in first half

French spirits group Remy Cointreau reported a 12.9% fall in first-half operating profit to 147.3 million euros ($155.3 million), a smaller decline than forecast in a company-compiled analyst poll.

Analysts had expected a decline of 20.6% in operating profit.

CEO Éric Vallat said the company held margins steady in the first half through "rigorous cost management," as it implements a 50 million euro full-year savings strategy. The drinks maker is grappling with weak demand in the U.S. and Asia-Pacific, and along with other brandy producers, higher duties on Chinese exports amid an EU-China trade spat.

Consolidated sales were 15.9% lower on an organic basis through the period.

The firm forecasts no return to growth in the Americas before the fourth quarter at the earliest, and a sales deterioration in Asia-Pacific, "in light of a persistent lack of visibility on the timing of recovery in the United States, and worsening market conditions in China."

It forecast an overall organic sales decline of between 15% and 18% for the full year, updating a forecast for a "double digit decline" issued in October.

— Jenni Reid

European markets: Here are the opening calls

European markets are expected to open higher Thursday.

The U.K.'s FTSE 100 index is expected to open 16 points higher at 8,291, Germany's DAX up 72 points at 19,334, France's CAC up 30 points at 7,173 and Italy's FTSE MIB up 98 points at 33,310, according to data from IG.

There are no major earnings Thursday, but data releases include Spanish and German inflation and European economic sentiment figures. Italian and Spanish business confidence data is also due.

— Holly Ellyatt

Bitcoin bounces back above $96,000 as investors eye $100,000 milestone heading into Thanksgiving holiday

Bitcoin on Wednesday climbed back above $96,000, recovering slightly from a pullback this week that knocked it from record levels.

The price of the flagship cryptocurrency was last higher by nearly 6% at $96,676.70, according to Coin Metrics, while ether jumped more than 9% to $3,636.46. The broader crypto market, as measured by the CoinDesk 20 index, gained 7%.

Although bitcoin is widely viewed as a store of value and a digital alternative to gold, the cryptocurrency often trades in tandem with the stock market. On Wednesday, however, it decoupled with the tech-heavy Nasdaq Composite, which was lower by 0.6%. The Dow Jones Industrial Average and S&P 500 dropped as well.

Coinbase was up more than 6% as bitcoin lifted it along with other crypto stocks.

— Tanaya Macheel

CNBC Pro: 5 tech stocks in supply chain management could benefit from Trump's tariffs, Redburn Atlantic says

President-elect Donald Trump's proposed steep tariffs on imports could create winners in the stock market — particularly among companies that help businesses manage their supply chains, according to Redburn Atlantic.

These tech stocks have outperformed during "periods of supply chain uncertainty," the Redburn analyst said citing 2018-2019 trade tensions between the U.S. and China.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Number of S&P 500 stocks above 200-day average for past year shows 'solid' market

The percentage of all stocks in the S&P 500 above their 200-day moving averages is currently 77%, and has remained above at least 60% for the past year. This proves that the underpinnings of the market are "still solid," according to Chris Verrone, head of the technical and macro research at Strategas.

The strong moving averages, which smooth out short-term fluctuations to show the underlying trend in a stock price, "speaks to the persistence of decent internals," Verrone wrote to clients on Wednesday.

"It's not historically uncommon for the early part of December to be a shoulder period for stocks, but the market is still smack in the middle of its best 3-month run of the calendar," he said, referring to the period from Oct. 31 until Jan. 31.

— Scott Schnipper

CNBC Pro: U.S. stocks too expensive? Morningstar's top exec reveals where he's investing instead

Attractive returns and a breadth of opportunities are among the reasons the U.S. market historically reigned supreme among investors.

However, one market watcher considers U.S. stocks expensive and is now seeking opportunities in other markets that are cheaper.

"We believe markets outside the U.S. are more attractive than the U.S. largely from a valuation perspective," Kunal Kapoor, chief executive officer at Morningstar said, revealing markets with "attractive pockets" of opportunity.

CNBC Pro subscribers can read more here.

— Amala Balakrishner