European stock markets closed lower |

(ABM FN-Dow Jones) European stock markets closed lower on Wednesday.

The broad-based Stoxx Europe 600 index fell 0.6 percent to 436.20 points, the German DAX index fell 0.6 percent to 14,261.19 points, and the French CAC 40 fell 0.4 percent to 6,660.59 points. The British FTSE 100 index closed down 0.4 percent at 7,489.19 points.

“The latest series of macroeconomic data in the US confirms the relatively strong economic trends,” said SBI Asset Management. This may lead the Fed to tighten policy further in December. In short, “more pain for the bathroom.”

On the macro level, it was announced on Wednesday that the economy in the eurozone grew slightly faster than expected in the third quarter. Gross domestic product eventually increased by 0.3 percent on a quarterly basis and by 2.3 percent on an annual basis.

German manufacturing output fell 0.1 percent month-on-month in October.

The euro/dollar was quoted at 1.0491. At the beginning of the trading day, the currency pair was still moving at 1.0468 and when the US stock markets closed on Tuesday, the 1.0469 level was on the boards.

Oil fell by 2.0 percent on Wednesday after the latest figures from the US Energy Agency (EIA) showed that US crude inventories fell last week.

Company news

A US court has dismissed a series of lawsuits related to heartburn remedies that Sanofi and GSK have marketed in the past. Sanofi shares rose 6.7 percent and GlaxoSmithKline shares rose 7.5 percent in the green.

With pressure on oil prices, Shell shares incurred a loss of 1.9 percent. BP shares fell 1.9 percent in London and France’s Total Energy lost 1.9 percent.

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In Paris, Teleperformance rose 3.3% and Kering fell 4.3%. Alstom shares fell 3.0 percent.

In Frankfurt, PUMA rose 2.6% and Zalando 0.9%, while Airbus closed down 2.5%.

Wall Street ranking

At the end of European stock markets, the leading S&P 500 index fell 0.3 percent, at 3,928.47 points. The Dow Jones index fell 0.2 percent and the Nasdaq Technology Stock Exchange 0.8 percent in the red.

Source: ABM Financial News

Following editors from Beursplein 5 ABC Financial News Developments on stock exchanges, and the Amsterdam Stock Exchange in particular, closely watched. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.

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