European Markets React to Economic Indicators

On Thursday, European stock markets mostly closed lower, reflecting investor concerns over the latest economic indicators. The Eurozone's consumer confidence report, which aligned with expectations, did little to inspire optimism. Additionally, the European Central Bank (ECB) offered no clear guidance on future inflation trends or interest rate adjustments, further unsettling investors.

Market Movements Across Europe

The DAX index in Germany fell by 1.13%, with Zalando SE experiencing a significant drop of 4.05%. France's CAC 40 was not spared, declining by 0.66%, as Stellantis NV saw a sharp decrease of 5.62%. The Euro Stoxx 50 also faced a downturn, decreasing by 1.16%, with Ferrari S.p.A. leading the losses by plummeting 7.91%. In contrast, the UK's 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 Fluctuations

The euro and pound sterling both weakened against the US dollar, with the euro decreasing by 0.78% and the pound by 0.42%, trading at $1.04046 and $1.26209, respectively, by 5:28 pm CET.