Europe closes lower on economic data

Tuesday, 14. July 2020 17:30

Major European stock markets closed lower on Tuesday after reports published in the day revealed further negative consequences of the coronavirus pandemic. Economic sentiment in Germany slipped 4.1 points in July and failed the estimates, the United Kingdom's gross domestic product (GDP) dropped by 19.1% in the three months to May, and the industrial production in the Eurozone slumped 20.9% on an annual basis.

The DAX lost 1.04% at the closing bell as Infineon Tech. AG dropped by 5.15%. The FTSE 100 fell by 0.16% with Scottish Mortgage Investment Trust PLC decreasing by 7.19%. The CAC 40 was closed on Tuesday due to the Bastille Day celebrations.

The euro went up by 0.45% compared to the dollar to sell for $1.13952 at 5:27 pm CET. At the same time, the pound sterling declined by 0.17%, with the exchange rate of 1.13952.

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Author:
Breaking the News / JR