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- European stocks close: stocks traded lower due to the weaker-than-expected inflation data in the Eurozone
European stocks close: stocks traded lower due to the weaker-than-expected inflation data in the Eurozone
Stock
indices declined due to the weaker-than-expected inflation data in the Eurozone
and increasing expectations for further stimulus measures by the European
Central Bank (ECB). Eurozone’s inflation increased 0.5% in May, after a 0.7%
gain in March. Analysts had expected a 0.7% rise. Inflation target by the
European Central Bank (ECB) is 2%.
Investors
are awaiting the ECB will cut interest rates and announce measures to boost
lending to smaller businesses.
The
unemployment rate in the Eurozone fell to 11.7% in April from 11.8% in March.
Analysts had expected the unemployment rate remains unchanged.
The number
of unemployed people in Spain decreased by 111,900 in May, after a 111,600
decline in April. Analysts had forecasted a 112,300 drop.
Indexes on
the close:
Name Price Change Change %
FTSE
100 6,836.30 -27.80 -0.41%
DAX 9,919.74 -30.38 -0.31%
CAC 40 4,503.69 -12.20 -0.27%
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