European stocks close lower after eurozone economic data

European stocks closed mostly lower on Monday amid falling consumer confidence in the eurozone as investors continued to watch inflation and monetary policy data.

The French CAC fell by 1.7%, the Stoxx Europe 600 by 1.5%, the Swiss Market Index by 1.3% and the German DAX by 1.1%. London’s FTSE 100, meanwhile, rose 0.5%.

German retail annual turnover fell 2.7% in March in real terms, after rising 7% in February, according to preliminary results from Destatis. The latest reading missed the consensus estimate of 6.1% growth.

The eurozone consumer confidence indicator continued to fall, falling to minus 22 points in April from minus 18.7 points in March, the European Commission said. The latest reading exceeded the flash estimate of -16.9. Meanwhile, April’s Eurozone Manufacturing Purchasing Managers’ Index fell to 55.5 in April from 56.5 in March, hitting the lowest point in 15 months.

The Swiss consumer confidence index fell to -27.4 points in the second quarter, from -3.8 points in the first quarter, deteriorating to its lowest since spring 2020, as rising prices continue to have a impact on households. The latest figure is well below the long-term average of minus 5 points.

On the corporate front, Vestas Wind Systems (VWS.CO) fell nearly 8% after posting a higher loss in the first quarter due to the impact of “very disrupted” supply chains and one-time expenses. linked to his Russian exit and his offshore legacy. operations.

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