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- European stocks close: stocks traded lower due to losses in the banking sector
European stocks close: stocks traded lower due to losses in the banking sector
Stock indices decreased traded lower due to losses in the banking sector. There are growing concerns over the financial health of Porugal's Espirito Santo Financial Group. Espirito Santo Financial Group is the largest lender in Portugal.
In the early trading session, stock markets were driven by the weaker-than-expected data from France. French industrial production declined 1.7% in May, missing expectations for a 0.5% rise, after a 0.3% gain in April.
On a yearly basis, French industrial production fell 3.7% in May, after a 2.0% drop in April.
French consumer price index remained flat in June, missing expectations for a 0.2% rise. On a yearly basis, French consumer price index increased 0.6% in June, after a 0.7% gain in May.
Gerresheimer AG shares jumped 3.6% after reporting better-than-expected quarterly earnings.
DNB ASA shares declined 5.0% after the company's second quarter net income missed analysts' forecasts.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,672.37 -45.67 -0.68%
DAX 9,659.13 -149.07 -1.52%
CAC 40 4,301.26 -58.58 -1.34%
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