European Stock Market Mixed, German Industrial Production Falls

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.