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9/23, 5:30 PM (Source: TeleTrader)
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Europe closes lower after weak manufacturing data

European equities finished trading on Monday with losses following weak manufacturing data for the Eurozone. The euro area's PMI fell to a six-year low, led by a drop in German manufacturing activity.

Outgoing European Central Bank President Mario Draghi reflected on the poor data, stating that recent reports "do not show convincing signs of a rebound in growth in the near future."

The DAX closed 1.01% in the red as Deutsche Bank and Daimler led the losses. In Paris, the CAC 40 dropped 1% at the end of trading with ArcelorMittal plunging 5.77%. The FTSE 100 slipped 0.26%; NMC Health was the worst performer, tanking over 7%.

The euro fell 0.24% against the dollar at 5:46 pm CET, buying 1.09914, while the pound lost 0.36% versus the US currency to go for 1.24250.

Breaking the News / JC