European Stocks Face Downturn

Investors across Europe reacted to the latest unemployment figures from Germany and Spain with caution, leading to a downturn in major stock equities. The data has sparked concerns over the economic stability in the region, affecting investor sentiment negatively.

Stellantis NV's Production Plummets

Adding to the market's woes, Stellantis NV reported a significant 40% drop in its Italian production for 2024, marking the lowest level since 1950. This revelation has further dampened the mood among investors, contributing to the day's losses.

Market Indices and Currency Movements

Frankfurt's DAX index fell by 0.49%, with BASF SE leading the losses at 2.51%. Similarly, the Euro Stoxx 50 and the CAC 40 indices dropped by 0.96% and 1.59% respectively, with Kering SA experiencing a sharp decline of 4.88%. In London, the FTSE 100 index decreased by 0.39%, with Diageo plc sliding 3.89%. On a brighter note, the euro and pound sterling both gained against the dollar, with increases of 0.30% and 0.29% respectively.