8/18, 5:30 PM (Source: TeleTrader)
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European markets close lower after inflation report

Major European markets closed lower on Friday after the publication of the latest EU inflation report and other economic data.

According to Eurostat, the annual inflation rate in the Eurozone (EA20) came in at 5.3% in July, going down in comparison with June's figure of 5.5%. Elsewhere, investors, today learned that Eurozone construction output for June went down 1%, while UK retail prices fell by 1.2% in July.

At the close, the German DAX lost 1.22%, with Sartorius AG being the worst performer at the close, down 3.51%. The French benchmark CAC 40 fell 0.39%, while Unibail-Rodamco decreased by 1.91%. The FTSE 100 declined by 0.63%, as Antofagasta dropped by 3.30%. The pan-European Euro Stoxx 50 decreased by 1.06%, and Adyen was leading the losses, declining by 2.94%.

The euro and the British pound were down by 0.07% and 0.08% against the dollar at 5:28 pm CET, selling for $1.08736 and $1.27352 simultaneously.

Baha Breaking News (BBN) / JG