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11/27/2023, 5:36 PM (Source: TeleTrader)
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Europe closes lower after Lagarde speech

Major European indexes closed with losses on Monday after the European Central Bank President Christine Lagarde gave remarks on monetary policy, saying that Eurozone inflation has been "too high" for "too long." She warned that failing to reach the 2% inflation target would lead to a "much worse situation."

The DAX closed 0.39% lower at the close with Rheinmetall AG dragging the index down by 3.32%. The FTSE 100 declined 0.37% as St. James's Place PLC decreased 2.42%. The pan-European Euro Stoxx 50 went down 0.40% with BASF SE declining 3.11%. The CAC 40 lost 0.37% as Thales went down by 2.21%.

The euro was 0.12% lower against the dollar at 5:28 pm CET to sell for $1.09317. The British pound was flat against the greenback at the same time.

Baha Breaking News (BBN) / DD