European Markets React to Economic Indicators

On Thursday, the major stock indexes across Europe experienced a downturn, primarily influenced by the latest Eurozone consumer confidence report which did not meet market expectations. The European Central Bank (ECB) also contributed to the market's cautious stance by avoiding a definitive outlook on inflation and future interest rate adjustments.

Market Performance Overview

The DAX index saw a significant drop of 1.13%, with Zalando SE leading the fall at 4.05%. Similarly, the CAC 40 decreased by 0.66%, with Stellantis NV experiencing a sharp decline of 5.62%. The Euro Stoxx 50 wasn't spared, falling by 1.16%, as Ferrari S.p.A. faced a steep 7.91% drop. In contrast, the FTSE 100 managed a slight increase of 0.23%, buoyed by Rolls-Royce Holdings PLC's impressive 15.18% surge, ahead of a key political meeting.

Currency Movements

Amidst these market movements, the euro weakened against the US dollar by 0.78%, while the pound sterling also saw a decrease of 0.42%, trading at $1.04046 and $1.26209 respectively by 5:28 pm CET.