Euronext Stock Market Today, 24 November 2025: European Shares Rebound on Fed Cut Hopes as Defence Stocks Slide

European stock markets operated by Euronext opened the new week on a firmer footing on Monday, 24 November 2025, with financials and other cyclicals in demand while defence names came sharply under pressure. The session unfolded against a busy news backdrop for Euronext itself, including the formal welcome of the Athens Stock Exchange (ATHEX) into the group and a new growth initiative targeting Europe’s aerospace and defence supply chain. ^[1]

Euronext indices: modest gains after last week’s tech-driven wobble

Trading across Euronext’s main markets — Paris, Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and now Athens — was broadly positive through Monday’s session, tracking a pan-European recovery in equities.

The pan-European STOXX 600 index was up roughly 0.2–0.6% during the European afternoon, led by banks and other financials, according to Reuters. ^[2]
A narrower blue-chip barometer for the euro area, the Euro Stoxx 50, hovered close to flat overall, underlining a more cautious tone in heavyweight names after recent volatility. ^[3]
In Paris, Euronext’s flagship CAC 40 traded around 0.5–0.7% higher for much of the day, building on a close near the 7,980-point area, based on recent data for France’s FR40 benchmark. ^[4]

Indexes tied to Euronext Amsterdam (AEX), Brussels (BEL 20), Lisbon (PSI), Dublin (ISEQ) and Milan followed a similar pattern: modest gains, especially in rate‑sensitive groups such as banks, insurers and consumer cyclicals, offset by weakness in defence and some energy names. ^[5]

The rebound comes after a choppy prior week in which European stocks, including those on Euronext exchanges, were hit by a global tech sell‑off and shifting expectations for U.S. monetary policy. TechStock²

Macro drivers: Fed rate‑cut hopes and Ukraine peace talks

Two global themes dominated sentiment on Euronext today:

1. Growing bets on a U.S. Federal Reserve rate cut

Markets spent Monday digesting the idea that the U.S. Federal Reserve could cut rates as early as December, after recent U.S. data and commentary reinforced expectations that the next move is lower. ^[6]

For Euronext‑listed banks and other financials, that cocktail has been supportive rather than negative:

Lower long‑term rate expectations can steepen yield curves if growth holds up, supporting bank profitability.
Investors also appear to be rotating back into European value and financial stocks after a tech‑heavy rally earlier in the month, a trend visible in Monday’s leadership by bank shares. ^[7]

2. Ukraine peace plan headlines hit defence shares

At the same time, talk of progress on a new peace proposal for the Russia–Ukraine war weighed heavily on defence stocks, many of which are listed on Euronext venues.

Reuters and other outlets reported that the U.S. and Ukraine are working on revisions to an earlier peace plan that critics had seen as too favourable to Moscow, rekindling hopes — however tentative — of eventual de‑escalation. ^[8]

That was enough to trigger a sharp move in the region’s defence complex:

A European defence and aerospace index fell roughly 2–3%, deepening losses after a steep drop on Friday. ^[9]
Major manufacturers such as Leonardo (Milan), Thales (Paris) and Saab (Nordics) were among the laggards, with traders citing declines in the 2–5% range across prominent defence names. ^[10]

For Euronext markets, that meant a classic cross‑current: banks, insurers and consumer stocks up, defence and some industrial names down — but with the positive side of that tug‑of‑war winning out, leaving the overall indices in the green.

Euronext’s big structural story: ATHEX formally joins the group

Beyond intraday moves, 24 November 2025 is a landmark date in Euronext’s own history.

Euronext welcomes ATHEX Group

In a News & Insights article published at 09:30 CET, Euronext confirmed the successful completion of its voluntary share exchange offer for all outstanding shares of HELLENIC EXCHANGES–ATHEX STOCK EXCHANGE S.A. (“ATHEX”). ^[11]

Key points:

ATHEX becomes the eighth exchange in Euronext’s federal model, after Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. ^[12]
Euronext previously reported that about 74% of ATHEX voting rights were tendered into the offer, comfortably above the minimum threshold. ^[13]
Today, 24 November, is the target date for settlement of the tender offer and admission of new Euronext “consideration shares” to trading on Euronext’s regulated markets. Former ATHEX shareholders are scheduled to receive these shares today. ^[14]

Euronext emphasises that bringing ATHEX into its single liquidity pool and Optiq® trading platform should boost the visibility and liquidity of Greek stocks, while giving Greek investors deeper access to pan‑European capital markets and post‑trade services such as Euronext Clearing and Euronext Securities. ^[15]

For investors across Euronext today, that integration story is at least as important as the day‑to‑day index moves: it deepens the group’s footprint in Southeastern Europe and reinforces its claim to be the leading multi‑country equity marketplace in the region.

New “European Aerospace and Defence Growth Hub” launched

In a separate press release dated 24 November 2025, Euronext announced the launch of the European Aerospace and Defence Growth Hub, a new initiative that sits right at the intersection of today’s market themes. ^[16]

According to Euronext:

The hub brings together 15 private companies from France, Hungary, Italy and the Netherlands, many of them mid‑sized suppliers in the aerospace and defence value chain.
It is powered by ELITE, Euronext’s ecosystem for private companies, and is designed to strengthen the supply chain behind Europe’s large defence and aerospace primes.
Participating companies will receive executive training, help with cross‑border collaboration, better access to financing tools and increased visibility with European and global investors. ^[17]

This growth hub is part of a broader package of “strategic autonomy” measures Euronext has rolled out in 2025, including:

Thematic indices tracking companies that contribute to Europe’s energy security and defence capacity, used as underlyings for ETFs and structured products. ^[18]
A European Defence Bond Label to channel private capital toward eligible defence and security projects via listed bonds. ^[19]
A planned IPOready Defence track from early 2026 to prepare more defence‑sector firms for the public markets. ^[20]

The irony of the day is striking: defence stocks are selling off on peace‑talk optimism, even as Euronext doubles down on the long‑term importance of Europe’s defence and aerospace ecosystem. For longer‑term investors in Euronext markets, that juxtaposition may present interesting entry points or, at minimum, a reminder that strategic themes can diverge sharply from short‑term price action.

Capital returns in focus: Euronext, BNP Paribas and Heineken buy back shares

Another thread shaping Euronext trading today is the ongoing wave of share buyback programmes among large European listed companies.

Euronext’s own €250 million repurchase programme

Earlier this month, Euronext announced a share repurchase programme of up to €250 million, targeting roughly 2% of its ordinary shares, with all repurchased shares to be cancelled.

The programme runs from 18 November 2025 until 31 March 2026 at the latest.
Buybacks are executed on Euronext Paris, under an authorisation given by shareholders at the May 2025 AGM.

Although the announcement predates today’s session, the programme is now live, and ongoing demand from the company itself is an important technical factor for Euronext N.V.’s own share price.

BNP Paribas: €1.15 billion buyback kicks off today

Before European markets opened, BNP Paribas confirmed the launch of a €1.15 billion share buyback programme relating to the distribution of its 2025 financial‑year results, following approval from the European Central Bank.

The programme, announced for November 2025, is part of BNP’s broader capital return policy and is aimed at optimising its CET1 capital structure while meeting a revised capital target for 2027.
The stock is a heavyweight component of the CAC 40 and broader Euronext indices, so its buyback has implications both for the bank sector and for Euronext benchmarks more generally.

Together with strong performance in the wider European banking index today, the BNP Paribas announcement helped keep Euronext Paris on the front foot. ^[21]

Heineken N.V.: ongoing €1.5 billion buyback advances

From Amsterdam, Heineken N.V. (Euronext: HEIA) added another dose of capital‑return news this morning. In a regulatory press release, the brewer reported fresh progress on the first €750 million tranche of its €1.5 billion share buyback programme:

Between 17 and 21 November 2025, Heineken repurchased 180,750 shares on‑exchange at an average price of about €69.14.
Over the same period, it bought roughly 180,203 shares from Heineken Holding N.V.
Cumulatively, up to and including 21 November, the company has repurchased 8.19 million shares, spending around €585.8 million under the current tranche.

Heineken Holding N.V., the controlling vehicle, has its own parallel buyback, with recent updates indicating a tranche size of roughly €375 million and average repurchase prices in the low‑€60s per share.

With Heineken also trading on Euronext Amsterdam, these steady buybacks provide incremental support to both the stock and the broader Dutch market index.

OCI Global and other notable movers on Euronext

Beyond financials and brewers, several stock‑specific stories stood out on Euronext today.

OCI Global (Euronext Amsterdam: OCI)

OCI N.V., a nitrogen and hydrogen products producer listed in Amsterdam, announced that it has agreed to sell 100% of its equity interest in OCI Ammonia Holding B.V. to Czech group AGROFERT for €290 million. ^[22]

OCI Ammonia Holding owns:

OCI Terminal Europoort, an ammonia import and storage terminal in Rotterdam
OCI Ammonia Distribution, which supplies off‑site European customers

Under the terms of the transaction:

OCI’s production facility in Geleen will retain access to the terminal through a throughput agreement.
Closing is expected in H1 2026, subject to shareholder and regulatory approvals. ^[23]

The market welcomed the deal: OCI shares were up more than 6% on Euronext Amsterdam in early European trading, making the stock one of the stronger performers in the chemicals space today. ^[24]

Other corporate and dividend news

A number of smaller updates also flowed through Euronext’s various venues:

Dividend and distribution payments previously announced by companies such as DNO ASA (Oslo) were scheduled around this date, reflecting continued strong cash‑return trends in parts of the energy sector.
Investors are also watching how newly listed names such as Materialise in Brussels and Più Medical on Euronext Growth Milan, which joined Euronext markets earlier in November, integrate into indices and attract liquidity in the weeks following their IPOs.

While these stories are more micro in nature, they add to a picture of active corporate activity across the Euronext ecosystem: buybacks, M&A, new listings and continued emphasis on shareholder returns.

What today’s Euronext session means for investors

For traders and longer‑term investors following “Euronext stock market today” on 24 November 2025, a few themes stand out:

Rotation, not reversal
The rebound in Euronext indices looks more like a sector rotation than a wholesale re‑rating: money is moving from high‑beta tech and crowded defence names toward banks, insurers and quality cyclicals, aided by changing views on U.S. rates.
Structural integration continues
The formal arrival of ATHEX inside the Euronext group is a structural shift, not a one‑day catalyst. It increases Euronext’s geographic reach, deepens its post‑trade offering and strengthens its position as the default home for euro‑denominated equity listings.
Strategic autonomy vs. short‑term sentiment
The new European Aerospace and Defence Growth Hub underlines Euronext’s conviction that European defence and strategic‑autonomy themes will matter for years, even if defence stocks are temporarily under pressure on peace‑talk headlines.
Buybacks are a key driver of per‑share growth
From Euronext N.V. itself to BNP Paribas and Heineken, capital return via share repurchases is a powerful, ongoing support for earnings per share and, potentially, valuations — a dynamic that investors will continue to monitor into 2026.

In short, Euronext’s stock markets today are balancing short‑term macro headlines (the Fed, Ukraine) with deeper structural evolutions (Greek integration, defence‑sector financing, large‑scale buybacks). For anyone tracking European equities through Paris, Amsterdam, Milan, Brussels, Dublin, Lisbon, Oslo and Athens, 24 November 2025 is a day that combines a relatively calm tape with genuinely consequential corporate and market‑structure news.

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