European markets decline on close after weak data

Tuesday, 01. October 2019 17:34

Equities on major stock markets in Europe finished Tuesday's trading session lower after IHS Markit's data showed manufacturing contracted in September in the Eurozone and its largest economy, Germany.

Brexit-related concerns continued as JP Morgan raised the chances of a no-deal to 25% from 10%, while French Foreign Minister Jean-Yves Le Drian's called a Brexit without an agreement the "most plausible outcome today". US shares fell significantly on lower-than-expected manufacturing data. British Prime Minister Boris Johnson stated the London will have to form customs checks "somewhere" after the United Kingdom leaves the European Union.

The DAX lost 164 index points or 1.32% at the close as Deutsche Post AG led the losers at 3.92%. FTSE 100 decreased by 0.65%, while the CAC 40 dropped 1.43%, with Kering as the worst performer, down 2.72%, followed by L'Oreal, which dipped 2.26%.

The euro gained 0.30% against the US dollar at 5:40 pm CET, trading at $1.09335. The pound dropped 0.32% against the American currency, going for $1.22527 at the same time.

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Breaking the News / MD