5/19, 5:32 PM (Source: TeleTrader)
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Europe closes lower after EU, UK inflation data

Stock markets in Europe closed with losses after the latest economic data releases showed that the inflation rate in the European Union and the United Kingdom advanced on a monthly basis, seemingly adding to negative market sentiment. Fears of strong price increases could not be allayed even with the European Commission's announcement of reopening the bloc's borders for fully vaccinated visitors from outside of the EU.

The DAX decreased by 1.77% at the close as Siemens dropped 3.84%. London's FTSE 100 was 1.19% down at the end of the trading session with mining company Anglo American plummeting 4.71%. In Paris, the CAC 40 closed 1.45% lower as ArcelorMittal led the losses, falling 4.99%.

The euro was flat against the dollar, selling for 1.22188 at 5:29 pm CET, while the pound lost 0.23% compared to the greenback, buying 1.341572 concurrently.

Breaking the News / MS