6/16/2022, 5:31 PM (Source: TeleTrader)
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Europe closes lower amid rates decisions

Major European stock markets ended Thursday's trading session with losses, as the investors process the latest interest rate increases.

The annual inflation rate in Italy increased to an over 30-year period high, while the Bank of England announced the fifth consecutive increase in its interest rates. Additionally, the Swiss National bank also raised its benchmark interest rate.

The DAX decreased by 3.31% at the close, as Zalando SE dropped by 12.44%. London's FTSE 100 closed 3.14% lower with Persimmon PLC plummeting 10.68%, while the CAC 40 declined by 2.39% at the end of trading, pulled down by Engie SA's 7.29% loss.

The euro was 0.63% higher against the dollar, selling for $1.05096 at 5:29 pm CET, while the pound added 1.10% compared to the greenback, buying $1.23200 concurrently.

Baha Breaking News (BBN) / TB