European statistics released Wednesday indicated a slowdown in consumer price growth in the eurozone in June.
The rise in consumer prices in the eurozone in June 2021 slowed to 1.9% in annual terms from 2% in May, according to preliminary data from the Statistical Office of the European Union. Experts also expected a slowdown in consumer price growth in June to 1.9% in annual terms.
Consumer prices in France, harmonized with European Union standards, rose 1.9% in June in annual terms, according to preliminary data from the National Statistical Office Insee. The increase relative to May was 0.2%. Experts, on average, predicted an increase in the first indicator by 1.9%, and the second by 0.2%.
Consumer spending in France rose 10.4% in May from the previous month. The rise is at its maximum since June 2020.
Meanwhile, the UK economy contracted 1.6% in the first quarter of 2021 from the previous three months, final figures from the National Statistical Office (ONS) show. It was preliminary announced that the GDP would fall by 1.5%. The experts did not expect a revision of the data.
The number of unemployed in Germany in June decreased by 38 thousand, that is, to 2.691 million people, unemployment was 5.9%, according to data from the Federal Agency for Employment of Germany. Experts on average expected a decrease in the number of unemployed this month by 20 thousand and predicted unemployment at 5.9%.
The consolidated index of the largest enterprises in the region Stoxx Europe 600 by the end of the day dropped by 0.77% and amounted to 452.84 points. However, since the beginning of this year, it has grown by more than 13%, the indicator also showed growth at the end of the month and the second quarter.
The British FTSE 100 indicator lost 0.71%, the German DAX dropped 1.02%, the French CAC 40 dropped 0.91%, the Italian FTSE MIB dropped 1.01%, and the Spanish IBEX 35 lost 1.05%.
Among the leaders of the fall in trading on Wednesday were the shares of European banks. HSBC Holdings Plc fell 1%, BNP Paribas SA fell 1.3%, Banco Santander SA fell 1.7%.
Also, securities of automakers have fallen in price. Porsche Automobil Holding SE was down 4.2%, Volkswagen AG - 2.3%, Bayerische Motoren Werke AG - 2.1%.
Spanish Acciona SA shares lost 0.5%. Renewable energy specialist Acciona Energia has set its initial public offering (IPO) price at the lower end of the price range. The company announced that the offering price will be € 26.73 per common share. The original range was € 26.73-29.76.
