European Markets React to Economic Reports

As the trading day began, major European stock markets experienced a downturn. This movement followed closely on the heels of several key economic reports. Notably, French producer inflation and Spanish consumer inflation figures were released, alongside Switzerland's GDP data for the last quarter of fiscal 2024.

Investors are also keenly awaiting further economic indicators, including consumer confidence metrics from Italy and the broader euro area, as well as the latest GDP figures from the United States.

Market Movements in Detail

At the opening bell, the DAX index saw a decline of 0.96%, with Deutsche Telekom's shares dropping by 3.26%. Similarly, the FTSE 100 index fell by 0.11%, with Howden Joinery Group losing 5.37% by 9:00 am CET. The CAC 40 wasn't spared either, falling 0.49% as Publicis Groupe's shares decreased by 2.90%. The Euro Stoxx 50 also decreased by 0.97%, with Stellantis experiencing a 2.02% slump at 9:01 am CET.

Currency Movements

In the currency markets, the euro and the pound remained stable against the dollar, trading at $1.04758 and $1.26673, respectively, at 8:59 am CET.