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5/18, 5:32 PM (Source: TeleTrader)
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Europe closes mostly lower on data reports

Major equity markets in Europe closed mostly lower on Tuesday as investors digested the released data reports. Eurostat reported a 0.6% decrease in the Eurozone's GDP in the first quarter of 2021, while in the whole European Union it fell by 0.4%. Bank of France predicted a GDP expansion of 5.5% in 2021. Additionally, the export of goods from the Eurozone grew by 8.9% year on year, while imports soared by 19.2%.

Meanwhile, the United Kingdom's unemployment rate stood at 4.8% in the three months to March, which is lower from the previous quarter, but higher compared to the same period of last year. Christine Lagarde, European Central Bank (ECB) President, assured the public the bank would not withdraw supportive policies too quickly and is committed to protecting Eurozone's economy.

The DAX declined by 0.07%, led by Siemens falling by 1.70%. The FTSE 100 remained flat closing with 0.02% above the flatline as International Consolidated Airlines gained 3.63%, while the CAC 40 dropped by 0.21% with Credit Agricole losing 6.73%. The euro grew by 0.44% against the dollar to trade for $1.22068 at 5:29 pm CET, at the same time the British pound also advanced by 0.44% to sell for $1.41906.

Breaking the News / LH