Economic Indicators Shake European Markets

Recent economic data has cast a shadow over European stock markets, with major indices closing mostly lower. Germany reported a decrease in inflation and an uptick in unemployment, while France saw a slight inflation increase. The UK's annual house price growth slowed, and Italy's producer prices rose, alongside mixed retail sales figures from Germany and Switzerland.

Market Movements Highlight Investor Caution

The French CAC 40 index fell by 0.16%, with luxury goods giant LVMH dropping nearly 2%. The Euro Stoxx 50 also declined by 0.13%, influenced by Adidas's 2.04% fall. Conversely, the UK's FTSE 100 rose by 0.38%, buoyed by Smiths Group's impressive 11.42% surge. The German DAX edged down by 0.13%, with Merck experiencing a 2.9% decrease.

Currency Markets Remain Steady

Amid these fluctuations, the euro and pound sterling remained stable against the dollar, trading at 1.03977 and 1.24407 respectively by late afternoon CET.