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European Stock Market Mixed, German Industrial Production Falls
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European stock markets traded mixed, with German industrial production unexpectedly falling by 0.7% in November. Despite this, the German economy was the weakest among its large eurozone peers last year. Munich Re reported an estimated $95 billion in insured losses from natural disasters in 2023, while GSK announced the acquisition of Aiolos Bio for a $1 billion upfront payment and up to $400 million in success-based regulatory milestone payments. Oil prices rebounded after previous losses due to concerns over sluggish demand and Middle East tensions.
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How do fluctuations in oil prices reflect broader global economic trends and geopolitical tensions?
How might the unexpected decline in German industrial production impact the overall economic performance of the country?
What implications does the acquisition of Aiolos Bio by GSK have for the pharmaceutical industry?
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