3/1/2018, 5:35 PM (Source: TeleTrader)
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Europe closes lower following data reports

Major stock indexes in Europe finished the Thursday session with losses as investors focused on reports issued throughout the day. Eurozone unemployment in January was unchanged from December, as the manufacturing sector continued expanding. The UK and German manufacturing activity slowed down in February. Meanwhile, United States Federal Reserve Chairman, Jerome Powell, continued his testimony, speaking before the Senate. Among other policy statements, Powell said the economy is not on a sustainable fiscal path, although the budget deficits from tax cuts will not pose a risk in the immediate future.

The FTSE 100 finished the day 0.99% in the red. Rentokil Initial Plc dropped 9.01% following poor profit estimates.

The DAX was down 2.23% at the closing bell, as Beiersdorf AG lost 4.48%.

The CAC 40 lost 1.17% at the end of the session. Carrefour decreased 6.02% following an earnings report which failed to meet expectations.

The euro was just 0.04 lower against the dollar, going for 1.2396 at 5:32 pm CET, while it rose 0.19% compared to the pound and sold for 0.888.

Breaking the News / DJ