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8/28, 5:32 PM (Source: TeleTrader)
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European markets close low amid bleak economic reports

Trading on major European stock markets ended in the red on Friday after grim economic data released earlier in the day. Germany's Federal Statistical Office (Destatis) revealed a decrease in the index of import prices in July, while the consumer confidence in the country declined in September compared to August. Earlier in the day, German Chancellor Angela Merkel pointed out that another lockdown is unlikely to be imposed.

The DAX closed 0.48% lower with Deutsche Post AG decreasing 3.12%. The CAC 40 fell by 0.26% to end the session as Danone was the worst performer with shares dropping to 1.81%. The FTSE 100 ended the day by declining 0.61%. DS Smith led the table sinking 1.97%.

The euro gained 0.66% against the dollar to sell for $1.189001 at 5:31 pm CET, while the pound sterling grew 0.11% compared to the greenback to go for $1.33464 at 5:32 pm CET.

Breaking the News / AM