The composite index of the largest companies in the Stoxx Europe 600 region decreased by 0.57% by 11:32 a.m. and amounted to 417.40 points.
The German DAX fell 0.5%, the French CAC 40 – 0.7%, the British FTSE 100 – 0.6%. The Italian FTSE MIB and the Spanish IBEX 35 were down 0.23% and 0.5% respectively.
Traders evaluate the latest statistics from European countries.
Consumer prices in France, harmonized with European Union standards, rose 6.5% year-on-year in August, according to preliminary data from the Insee National Statistical Office. Thus, the growth rate slowed down compared to 6.8% in July. Analysts had expected weakening to just 6.7%, according to Trading Economics.
Meanwhile, French consumer spending fell 0.8% in July from the previous month. The average forecast of experts assumed a decline of 0.3%, according to Trading Economics. Bloomberg respondents had forecast a 0.2% contraction.
French GDP increased by 0.5% in the second quarter compared to the previous three months, according to final data from the national statistical institute Insee. The final data coincided with the preliminary estimate. Analysts, on average, did not expect a revision, according to a Trading Economics poll.
The number of unemployed in Germany in August increased by 28 thousand – up to 2.497 million, according to the data of the Federal Employment Agency of Germany. The rise in the indicator was noted for the third month in a row.
Unemployment rose to 5.5% from 5.4% a month earlier.
Experts polled by Bloomberg predicted, on average, an increase in the number of unemployed by 28.5 thousand and a rise in the unemployment rate to 5.5%. Respondents of Trading Economics assumed an increase in the first indicator by 28 thousand and an increase in unemployment to 5.5%.
The drop leaders among Stoxx Europe 600 components are shares of the Polish supermarket chain Dino Polska, which shed 4.3%.
Airbus SE shares are down 1.9%. European Aerospace Corporation CFO Dominic Asam will leave his post in early March next year, the company said in a statement. He will take the position of CFO of SAP SE.
Danske Bank AS added 0.4% in price. A Danish bank will write off the debt of 90 thousand customers in connection with the discovery of errors in debt collection systems.
