The European market posted a volatile session on Thursday.
The European Euro Stoxx 50 Index declined 0.23% lower to 3,608.92, while the French CAC 40 Index slid 0.20% lower to 5,029.55 at the time of writing. The German DAX 30 Index lost 0.04% to 11,427.30 and the UK’s benchmark FTSE 100 index was down 0.31% to 6,924.11.
The European stock market will be closed on Friday for May Day holiday.
Germany’s retail sales declined in March to 2.3% on a monthly basis and posed a rise of 3.5% on an annual basis. The nation’s unemployment data revealed Germany’s unemployment rate stood at 6.4% in April, while the number of unemployment claims dropped by 8,000.
Spain’s economy expanded 0.9% in the first quarter and grew 2.6% on a yearly basis.
The Eurozone’s CPI showed no growth in April, standing at 0.6% on an annual basis. Meanwhile, the euro bloc’s unemployment rate came in at 11.3% in March.
Stocks in Asia fell sharply on Thursday.
The Japanese benchmark Nikkei 225 Index edged 1.5% lower to 19,756.40 points, while Tokyo’s Topix Index fell 1.4% to 1,604.53 points.
A preliminary report released on Thursday showed that Japan’s industrial production dropped 0.3% on a monthly basis. Meanwhile, the Bank of Japan (BoJ) is due to release its statement on its monetary policy later in the day.
The Chinese benchmark Shanghai Composite added 0.18% to trade at 4,484.65 points, while Hong Kong’s Hang Seng Index slid 0.47% to 28,265.77 points.
South Korea’s Kospi Index went down 0.46% to 2,132.78 points and Australia’s benchmark S&P/ASX 200 Index slumped 1.24% to 5,766.30 points.
The Federal Open Market Committee (FOMC) released a statement on Wednesday following its two-day policy meeting. The statement showed that Fed policymakers agreed that they need additional proof of a stronger economy recovery before they begin raising interest rates.
“When it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2% objective over the medium term,” policymakers stated in the release.