The European stocks were trading slightly lower as investors await US reports on consumer prices from the region’s major economies. The market processed the previous session’s optimism over a deal on the region’s future bailout regulation.
The Stoxx 50 tumbled 0.40% to 2,609.47 as of 10.40am GMT, while Germany’s DAX lost 0.18% to 7,976.23 at the same time. The British FTSE 100 lowered by 0.11% to 6,236.80 and the French CAC 40 declined 0.48% at 3,744.09.
In France, the French Consumer Spending increased by 0.5 in May. While the German’s consumer prices data is expected to be released in the session, as well as Italy’s inflation data.
According to reports, the Japanese Industrial output rose by 2% in May. In Europe, Germany’s retail sales rose by 0.4% in May on a year-on-year basis, according to data released by the Federal Statistical Office (Destatis).
The University of Michigan Consumer Confidence report and the US Chicago manufacturing Purchasing Managers’ Index are expected to be released later in the day.
Leaders of the Eurozone European Union have agreed to proceed with establishing who would foot the bill when the banks in the bloc collapse in the future.
Small companies holding with uninsured deposits worth over 100,000 euros will suffer the consequences if a bank would require an emergency top-up.
Losses could go as high as 8% of a bank’s total liabilities, according to officials.
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