European Markets React to Latest Economic Data

Following the release of the latest economic data, major European stock markets predominantly closed in the red on Friday. Germany witnessed a decrease in inflation rates alongside a rise in unemployment. In contrast, France experienced a slight uptick in inflation. Additionally, the United Kingdom saw a slowdown in annual house price growth, while Italy reported an increase in producer prices. Both German and Swiss retail sales figures also came into the spotlight today.

Market Movements in Detail

The French CAC 40 index fell by 0.16%, with LVMH shares dropping significantly by 1.98%. The Euro Stoxx 50 also saw a decrease of 0.13%, largely due to Adidas shares falling by 2.04%. On a brighter note, the British FTSE 100 index rose by 0.38%, buoyed by an impressive 11.42% surge in Smiths Group shares. Meanwhile, the German DAX index declined by 0.13%, with Merck shares losing 2.9%.

Currency Movements

At 5:35 pm CET, the euro and the pound sterling both remained stable against the dollar, trading at 1.03977 and 1.24407, respectively.