Market Overview

European stock markets faced a downturn on Thursday, with major indexes closing mostly lower. This shift comes as the latest report on Eurozone consumer confidence failed to meet expectations, and the European Central Bank (ECB) held back from providing a clear forecast on inflation and future interest rate adjustments.

Index Performance

The DAX index saw a significant drop, decreasing by 1.13% or 258 points, with Zalando SE experiencing a notable slump of 4.05%. Similarly, the CAC 40 fell by 0.66%, largely due to a sharp decline in Stellantis NV shares by 5.62%. The Euro Stoxx 50 wasn't spared, decreasing by 1.16%, with Ferrari S.p.A. taking a considerable hit, dropping by 7.91%. On a brighter note, the FTSE 100 managed a slight increase of 0.23%, buoyed by Rolls-Royce Holdings PLC's impressive surge of 15.18%.

Currency Movements

In currency markets, the euro weakened against the US dollar, losing 0.78% by 5:28 pm CET. The pound sterling also saw a decrease, dropping by 0.42% to $1.04046 and $1.26209, respectively.