European stocks closed lower due to weak German business sentiment and political uncertainty

From Nasdaq: 2024-12-17 13:22:41

European stocks closed lower on Tuesday due to weak German business sentiment and political uncertainty in Germany and France. The pan-European Stoxx 600 fell by 0.42%, with the UK’s FTSE 100 down by 0.81% and Germany’s DAX by 0.33%. Among other markets, Austria, Belgium, and Spain closed weak while Iceland and Turkiye ended higher.

In the UK market, Bunzl closed down by 5.6% due to persistent deflation impacting its annual profit. JD Sports Fashion, WPP, Coca-Cola, and others lost 2 to 3%. Capita shares tanked 15% after an eight percent revenue drop.

In economic news, the euro area trade surplus fell to EUR 6.8 billion in October, and the UK unemployment rate remained unchanged at 4.3%. Germany’s business sentiment fell to its weakest level since 2020 in December.



Read more at Nasdaq: European Stocks Close Broadly Lower As Investors Digest Economic Data, Await Fed Policy