European Markets Open Lower Amid Economic Concerns

European stock markets opened mostly lower on Friday, reacting to a mix of lukewarm economic data. France reported an annual inflation rate that exceeded expectations, while the United Kingdom faced a contraction in its GDP for May, alongside a widening trade deficit and a decline in industrial production.

Key Market Movements

The DAX index fell by 0.60%, with Adidas AG shares dropping by 1.65%. The CAC 40 decreased by 0.36%, led by a significant slump in Kering SA shares by 2.96%. The Euro Stoxx 50 also saw a decline of 0.37%, with Stellantis NV shares falling by 2.30%. Meanwhile, the FTSE 100 remained unchanged.

Currency Fluctuations

The euro and pound sterling both lost ground against the US dollar, with the euro declining by 0.21% to $1.16750 and the pound sterling dropping by 0.34% to $1.35330.