29.06.2022
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European stocks tumble on weak domestic data

MOSCOW, June 23 – PRIME. Major European stock indexes closed trading Thursday in the red after the release of weak statistics on the euro area, according to trading data.

Oil falls in price on fears of a recession and demand

As a result of the trading day, the British FTSE 100 index fell by 0.97%, to 7020.45 points, the French CAC 40 – by 0.56%, to 5883.33 points, the German DAX – by 1.76%, to 12912.59 item.

The composite index of business activity PMI in the manufacturing and services sector of 19 eurozone countries, according to preliminary estimates, fell to 51.9 points from 54.8 points in May. Analysts had expected the index to decline to only 54 points.

As Aberdeen Standard Investments investment manager James Athey noted, the PMI data showed that the markets were looking at the forecast “through rose-colored glasses”, and the situation turned out to be worse in reality.

“It is quite clear to me that (economic – ed.) Growth is slowing rapidly everywhere, but central banks cannot apply their usual stimulus measures until inflation slows to a significant extent,” Bloomberg quoted the agency as saying.

Source: 1prime

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