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5/11, 5:31 PM (Source: TeleTrader)
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Europe closes lower ahead of inflation reports

Major European equity markets closed lower on Tuesday following the United States tech stock plunge and amid concerns for the inflation data scheduled to be released by the US Federal Reserve on Wednesday. Meanwhile, economic sentiment in May surged, both in Germany, reaching the highest figure in 20 years, and in Eurozone as a whole.

The DAX closed with 1.82% in the red led by Delivery Hero dropping by 3.06%. The FTSE 100 lost 2.47% with International Consolidated Airlines plummeting by 7.23%, while the CAC 40 fell by 1.86% as Renault declined by 6.44%.

The euro gained 0.32% against the dollar to sell for $1.21693 at 5:24 pm CET, at the same time the British pound climbed by 0.23% trading for $1.41507.

Breaking the News / LH