European markets close with losses after data

Tuesday, 06. December 2022 17:31

European stock exchanges closed the trading session on Tuesday recording losses as investors dissected data on factory orders in Germany, with domestic demand decreasing, which could indicate that the country's economy could be deteriorating.

The negative sentiment was also driven by potential interest rate increases in the upcoming period after the European Central Bank warned that additional monetary tightening might be "necessary."

Frankfurt's DAX dropped 0.72% as Fresenius Medical Care AG & Co. KGaA slumped 3.68%. The CAC 40 slipped 0.14% with Eurofins Scientific SE losing 3.19%. London's FTSE 100 fell 0.61%, as Mondi plc sank 4.74%.

The euro rose 0.32% against the dollar, to sell at $1.05199 at 5:28 pm CET. The pound sterling gained 0.52% against the American currency, to change hands to $1.22420 a minute later.

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