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2/27/2018, 5:35 PM (Source: TeleTrader)
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Europe closes mostly in the red amid Powell testimony

Markets in Europe closed mostly with losses on Tuesday as newly appointed head of the US Federal Reserve, Jerome Powell, testifies before the House Financial Services Committee. Investors keep watch over the highly anticipated and ongoing testimony of the new Fed chief as Powell told lawmakers he sees no threats to the financial stability of the US.

In data, economic sentiment in the euro area dipped slightly in February, while inflation figures for Germany are expected to rise 1.4% this month.

The DAX closed 0.29% in the red as Beiersdorf lost 2.67%. The CAC 40 finished flat, while the FTSE 100 ended the session 0.10% lower with mining company Fresnillo falling 4.32%. The euro declined 0.57% versus the dollar at 5:38 pm CET, going for 1.22436.

Breaking the News / JC