Europe closes lower, DAX falls over 210 pts

Friday, 16. September 2022 17:31

European stock markets closed lower Friday after the latest update on inflation in the eurozone. Earlier, Eurostat revealed that inflation in the euro area was at 9.1% on an annual basis in August.

During the day, the pound dipped under $1.14 at a 37-year-low. Near the European markets close, at 5:29 pm CET, it still was down by 0.39% to go for $1.14241.

The bloc reiterated its concern about reducing energy consumption and increasing supply to prepare for the upcoming winter amid the energy crisis. At the same time, European gas futures plummeted by over 14% after Russia revealed an export drop.

The DAX lost 214 points or 1.66% at the close, with Sartorius AG VZO down by 7.01%. The CAC 40 fell 1.31%, as Bouygues decreased by 5.30%. The FTSE 100 declined 0.66%, while InterContinental dropped by 4.76%.

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Author:
Baha Breaking News (BBN) / JG