Major European stock indexes closed Tuesday's session lower following the release of Germany's unemployment figures. Although the unemployment rate fell to 5.8% from 5.9% in April, the number of unemployed people was higher than expected, reaching 25,000 instead of the predicted 10,000. In addition, the Swiss annual inflation rate remained unchanged at 1.4% in May.
Investors eagerly anticipated the European Central Bank's next monetary policy decision on Thursday, where the bank is expected to cut interest rates for the first time since 2019.
At the close, the German DAX lost 1.09% or 202 points, with Siemens Energy AG being the worst performer, down 5.72%. The French benchmark CAC 40 fell 0.75%, while Orange SA decreased by 3.25%. The FTSE 100 declined by 0.37%, as Fresnillo PLC dropped by 7.79%. The pan-European Euro Stoxx 50 decreased by 1.00%, and Unicredit led the losses, declining by 4.16%.
The euro lost 0.20% against the dollar at 5:31 pm CET, selling for $1.08827. At the same time, the pound was 0.15% down compared to the dollar, going for $1.27879.
