European markets close lower following economic data

Wednesday, 17. August 2022 17:34

Major stock indexes in Europe closed lower Wednesday after the publication of important economic data and amid updates on the Ukraine crisis.

Earlier, Eurostat reported that the economic growth of both the euro area and the European Union as a whole stood at 0.6% in the second quarter of 2022 compared to the previous quarter. Meanwhile, UK Office for National Statistics said that Consumer Price Index (CPI) increased by 10.1% in July.

The DAX lost 283 points or 2.04% at the close, with Zalando SE down by 7.61%. The CAC 40 fell 1.00%, while Alstom decreased by 6.82%. The FTSE 100 declined 0.27%, as Persimmon dropped by 7.84%.

The euro was flat against the dollar at 5:28 pm CET, selling for $1.01691. In comparison, the pound was down by 0.40% to go for $1.20439 at the same time.

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