Europe closes mostly lower on data reports

Wednesday, 18. August 2021 17:30

Major equity markets in Europe closed mostly lower on Wednesday as investors reacted to economic reports reflecting a slowdown in economic growth. Eurozone's annual consumer inflation stood at 2.2% in July with the energy sector contributing most to the overall rate.

In the United Kingdom, yearly inflation amounted to 2% in July missing analyst expectations and arriving lower than last month. UK's consumer price index was higher compared to the same time a year ago but dropped by more than expected from the previous month.

The DAX was up 0.28% at the closing bell led by Deutsche Post gaining 2.43%. The FTSE 100 lost 0.16% as Bhp Group plunged by 5.94%, while the CAC 40 fell by 0.73% with LVMH dropping by 5.16%. The euro slid by 0.10% against the dollar to trade for $1.16988 at 5:28 pm CET, at the same the British pound added 0.07% exchanging hands for $1.37520.

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Breaking the News / LH