The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was down 0.7%, France's CAC decreased 2.9%, and the Swiss Market Index declined 0.8%.
The annual inflation rate in the euro area was an estimated 2.0% in July, which is unchanged from June, according to a flash estimate from Eurostat, the EU's statistical office. Analysts had been expecting 1.9%, according to Bloomberg.
Eurostat said food, alcohol, and tobacco are expected to have the highest annual rate in July at 3.3%, compared with 3.1% in June.
The highest rates were in Estonia at 5.6%, followed by Croatia and Slovakia at 4.5% each. The lowest rates were in Cyprus at 0.1%, followed by Ireland at 1.6%, and Germany at 1.8%.
And in corporate news, shares of Teleperformance fell 20.7% on the Parisian exchange after the company said it cut its 2025 revenue growth guidance to the lower end of the 2% to 4% target it previously expected.
Source : MT Newswires
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