European Markets Mostly Decline Following German Inflation Data

On Tuesday, major European stock markets closed mostly lower after the German Federal Statistical Office Destatis released its final report revealing a climb in the country's inflation rate to 2.2% in November. This news also caused the euro to drop to its lowest level since April 2022 against the pound.

Among the affected indices, the DAX rose by 0.08% at the closing bell, with Sartorius AG increasing by 6.38%. Conversely, the FTSE 100 dropped by 0.86%, as Ashtead Group PLC tumbled by 14.03%. The CAC 40 declined by 1.14%, with Unibail-Rodamco-Westfield falling by 3.05%. The Euro Stoxx 50 decreased by 0.68% at the close, as LVMH slipped by 2.54%.

In currency markets, the euro lost 0.40% against the dollar, selling for $1.05063 at 5:28 pm CET. Meanwhile, the pound was flat compared to the dollar, selling for $1.27466 at 5:29 pm CET.