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10/12/2021, 5:31 PM (Source: TeleTrader)
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Europe closes lower on declining economic sentiments

Major equities in Europe closed lower on Tuesday amid investor concerns for surging inflation, continuing supply shortages and monetary policy changes from the central banks. Data reports revealed that euro-area economic sentiment declined further in October, while Germany saw a fifth consecutive month of dropping sentiments and expectations. Meanwhile, the IMF lowered its global growth projection for 2021 from 6% to 5.9%, keeping the 2022 forecast unchanged.

The DAX fell by 0.34% led by MTU Aero Engines losing 3.03%. The FTSE 100 slid by 0.23% as International Consolidated Airlines plunged by 3.35%, while the CAC 40 dropped by 0.34% with Safran decreasing by 2.63%.

The euro declined by 0.07% against the dollar exchanging hands for $1.15428 at 5:28 pm CET, at the same time the British pound was flat relative to the greenback selling for $1.35992.

Baha Breaking News (BBN) / LH