Europe closes lower after disappointing data

Tuesday, 29. September 2020 17:31

Major European stock markets closed lower on Tuesday after rather discouraging data released during the day. Germany saw a drop in its consumer price index, as well as announcements on job cuts in Thyssenkorp and other firms. The Eurozone reported a rise in consumer confidence but still a lower one than the previous month. Meanwhile, the prices of crude went down amid fears of growing cases of coronavirus.

The DAX traded 0.44% lower at the closing as Deutsche Bank AG lost 2.83%. The FTSE 100 sank 0.44% with Rolls-Royce Holding PLC dropped by 5.36%. The CAC 40 declined by 0.26% as Unibail-Rodamco-Westfield decreased by 5.19%.

The euro gained 0.61% against the dollar to sell for $1.17378 at 5:27 pm CET. At the same time, the pound sterling increased by 0.20% in comparison to the greenback to exchange hands for $1.28587.

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Breaking the News / JR