Stocks in Europe were seen falling on the last day of the trading week, following a heavy decline in the US and Asia.
The pan-European Euro Stoxx 50 declined 1.11% to 3,116.50 at the time of writing, while the French CAC 40 edged 1.16% lower to 4,362.30. At the same time the German DAX declined 1.49%, trading at 9,312.80, while the UK’s benchmark FTSE 100 lost 1.21% to 6,561.30.
The global outlook was affected by the steep declines in the US overnight, where the Nasdaq Composite index ended the session dropping to 2.3%, the most since 2011. While Standard Poor’s 500 Index closed the session with a fall of 1.8%.
In Germany, the country’s consumer price index climbed 0.3% higher in March on a monthly basis, compared to the previous reading of 0.5% seen in February, reports from the Federal Statistical Office showed. The reading came in line with analysts’ forecasts.
The British broker Hargreaves Lansdown dropped 4.83% to 1,260 pence per share, while the chip designer ARM Holdings edged 3.5% lower.
German Steel producer, Salzgitter AG climbed 2.4% higher after Citigroup Inc suggested that investors should sell-off the company.
The President of the World Bank, Jim Yong Kim said on Thursday that the ongoing crises between Russia and Ukraine could cause the Russian economy to shrink by approximately 1.8% this year.
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