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12/7/2022, 5:31 PM (Source: TeleTrader)
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Europe closes lower after inflation estimates

European stock exchanges ended the trading session on Wednesday with losses as the European Central Bank predicted consumer inflation expectations will continue to rise over the next 12 months. Moreover, Fitch Ratings revised its global shipping estimates from "neutral" to "deteriorating." The negative sentiment prevailed in spite of the Eurozone's gross domestic product (GDP) in the third quarter of the fiscal year coming moderately above flash estimates.

Frankfurt's DAX dropped 0.51% at the closing bell, as Airbus pulled the index down by 2.46%. The CAC 40 slipped 0.28%, as Kering lost 4.31%. London's FTSE 100 decreased by 0.24%, as British Petroleum fell by 3.71%.

The euro rose 0.22% against the dollar, to sell for $1.04917 at 5:28 pm CET. The pound sterling gained 0.31% against the greenback, changing hands for $1.21750 concurrently.

Baha Breaking News (BBN) / MX