Europe closes lower after CPI digits
Major European stock exchanges traded with losses at the close on Tuesday as the latest inflation report in the Eurozone weighed on investors' mood. Although the headline inflation cooled to 2.5% in June, the core inflation, which excludes energy, food, alcohol and tobacco, remained steady at 2.9%, coming in above analyst expectations.
The DAX tumbled 0.69% at the end of the trading session, with Hannover Rueck sliding 3.40%. The Euro Stoxx 50 declined 0.48% at the closing bell, as Muench Rueckvers down 3.26%. Simultaneously, the CAC 40 fell 0.30%, as Cie Generale des Etablissements Michelin decreased 3.10%. The FTSE 100 finished with a 0.56% loss, as Beazley dropped 5.24%.
The euro stood flat against the dollar at 5:35 pm CET, going for 1.07348. At the same time, the pound traded 0.22% above the greenback, selling at 1.26773.