1/21, 5:30 PM (Source: TeleTrader)
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Europe closes lower after disheartening data

Major stock markets in Europe closed lower on Friday after the latest report showed another monthly decline in consumer confidence in the Eurozone. Earlier, the United Kingdom revealed its retail sales in December declined by 3.7% in comparison to the previous month. Meanwhile, European Central Bank (ECB) President Christine Lagarde admitted most institutions did not appropriately predict the speed of inflation's growth.

The DAX lost 2.08% or 331 points at the close as Siemens Energy AG plummeted by 16.89%. The FTSE 100 decreased by 1.27%, with Entain PLC dropping by 4.73%. The CAC 40 fell by 1.89% as ArcelorMittal SA sank by 7.33%.

The euro gained 0.36% to the dollar to sell for $1.13449 at 5:27 pm CET. At the same time, the pound sterling dropped by 0.21% against the greenback to go for $1.35606.

Baha Breaking the News (BBN) / JR