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The European market closed after lowering prices after inflation data.Deutsche Bank slips 1.3%

Due to UK and US holidays, major European indexes closed in the red on Monday as investors digested inflation data from some of the region’s largest economies on a quiet day.

Germany’s Daks Temporarily fell 0.7%, retreating from last week’s highs.French CAC It also fell by about 0.7% at the end of the day. Spain’s IBEX fell about 0.9%.

Meanwhile, the Italian FTSE MIB ended the day almost flat. This is a British Bank Holiday and the FTSE 100 is closed. This time it’s Memorial Day weekend, so the US market is closed.

The German index is Deutsche BankAfter that, the stock price fell by 2% The Federal Reserve Board of Governors Said he was concerned about anti-money laundering practices of German creditors. By the end of the day, we had reduced losses by about 1.3%.

This was after the release of inflation data for countries, including Spain, which recorded the highest inflation rates in four years. Consumer prices rose 2.4% year-on-year in May, according to flash data from the National Bureau of Statistics of China. Inflation rose 2.5% year-on-year in May, confirming the arrival of inflation on the continent.

Meanwhile, France will begin vaccination with Covid-19 on Monday for all people over the age of 18.

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OECD raises forecast

OECD’s latest economic outlook released on Monday, Brought good news to the euro area. The report, entitled “No Normal Recovery,” states that the outlook for the global economy is bright, but the methods are not very uniform. In terms of the global outlook, the organization expects gross domestic product (GDP) growth of 5.8% in 2021 compared to a 3.5% reduction in 2020. Eurozone.

However, he added that despite the positive signs of health and economic recovery, some serious headwinds, the lack of sufficient vaccines for developing countries, remain.

The European market closed after lowering prices after inflation data.Deutsche Bank slips 1.3%

Source link The European market closed after lowering prices after inflation data.Deutsche Bank slips 1.3%

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