7/17/2019, 5:31 PM (Source: TeleTrader)
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European stocks finish lower after economic data

Stocks on major stock markets in Europe closed in the red on Wednesday following the release of several important economic data reports. Eurostat's statistics's showed the annual inflation rate in the Eurozone rose to 1.3% in June, while the construction output fell by 0.3% in May. The European Automobile Manufacturers Association reported new car registrations in the European Union decreased by 7.8% in last month. Meanwhile, the European Central Bank's Executive Board Member Benoit Coeure stated the economic growth in the euro area was expected to weaken in the second and third quarter of the year.

In London, the FTSE 100 fell 0.60% at the end of the trading session, as Johnson Matthey plc dropped 5.55%. The DAX in Germany lost 0.72% with Fresenius Medical Care AG & Co. KGaA​ losing 3.51%. The French CAC 40 decreased 0.77% at the same, as Michelin slipped 3.64%.

The euro was 0.13% higher against the dollar at 5:29 pm CET, to change hands for $1.12247. The pound jumped 0.19% to $1.24310 concurrently.

Breaking the News / MD