Morning Report 25 Nov 22: European sharemarkets closed higher on Thursday hitting fresh 3-month highs.

The Ifo Institute in Germany reported a business climate index of 86.3, higher than analysts' forecast of 85.0 in a Reuters poll, and following a revised reading of 84.5 in October. Shares of world's largest classified ads company Adevinta and Polish insurer PZU jumped 7.2% and 6.6%, respectively after posting strong third-quarter results. The continent-wide FTSEurofirst 300 index lifted by 0.3% on Thursday but the UK FTSE 100 was unchanged.

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