European Equities Close Mixed in Tuesday Trading; Euro Area Inflation Rises to 2%
The European stock markets closed mixed in Tuesday trading as the Stoxx Europe 600 was off 0.18%, Germany's DAX declined 0.80%, the FTSE 100 gained 0.28%, France's CAC 40 edged down 0.04%, and the Swiss Market Index rose 0.35%.
Euro area annual inflation is expected to be 2.0% in June 2025, up from 1.9% in May, according to a flash estimate from Eurostat, the statistical office of the European Union.
Among the main components of inflation, services is estimated to have the highest annual rate at 3.3%, followed by food, alcohol, and tobacco at 3.1%.
The countries with the highest annual inflation in June were Estonia and Slovakia at 5.2% and 4.6% respectively, while the lowest rates were in Cyprus and France at 0.5% and 0.8% respectively.
In Germany, approximately 45.8 million residents were employed in May, according to preliminary estimates from the Federal Statistical Office. The figure was only 1,000 higher than the previous month. Compared with a year earlier, the number of employed declined by 64,000.
And in corporate news, Novo Nordisk's top executives did not heed internal warnings that the company was not fully prepared for the launch of its weight loss drug Wegovy in the US, Reuters reported Tuesday, citing six former employees. Wegovy was the first highly effective obesity treatment approved in the US in 2021, but Eli Lilly's Zepbound overtook it in weekly new prescriptions this year, according to the report.
Source : MT Newswires
