2/6, 5:36 PM (Source: TeleTrader)
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Europe closes lower with spotlight on economy

European stock markets closed with losses on Monday as traders remained squarely focused on the state of the economy after central bank officials insisted that more policy tightening will be likely needed. In addition, the euro area retail sales and German factory orders dropped by more than expected on a yearly basis in December 2022.

The DAX lost 0.84% at the close as Zalando dropped 5.60%. The FTSE 100 closed 0.82% lower with Prudential falling 4.80%. The CAC 40 was down 1.34% at the end of trading as its worst performer ArcelorMittal declined 3.88%. The EURO STOXX 50 closed with a 1.23% decrease. Adyen lost 4.80%.

The euro was 0.60% lower than the dollar at 5:34 pm CET, trading at 1.07294. The pound was down 0.32% compared to the American currency, going for 1.20124 at the same time.

Baha Breaking News (BBN) / MS