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European Equity Benchmarks Close Mixed; U.K. Inflation Rises to Highest Level in 5 years

The broad-based major European indices closed mixed in Tuesday's trading session, as the London market edged lower, while the continental markets ended the day in positive territory.

In economic news, the U.K.'s 12-month inflation rate climbed to 2.7% in May, from 2.6% in April, its highest level in more than five years, according to the Office for National Statistics ( ONS ). Rising prices for recreational and cultural goods and services (particularly games, toys and hobbies) were the main contributor to the increase in inflation.

And in France, payroll employment added 89,700 jobs in Q1, a 0.4% increase, following a 0.3% rise in Q4 of 2016, according to the National Institute for Statistics and Economic Studies (INSEE). Compared to the same time last year, payroll employment rose by 1.2%, or 284,100 net jobs. Of these jobs, 255,400 were created in the private sector, and 28,700 jobs were in the public service.

In equities, investment company 3i Group, and entertainment company Merlin Entertainments led the FTSE lower in London, falling 3% and 2.7% each. They were followed by equipment rental company Ashtead Group, energy firm Centrica, and bank Standard Chartered, which dropped 2.5%, 1.8%, and 1.3% respectively.

In Frankfurt, airline operator Deutsche Lufthansa led the DAX higher, rising 3%, followed by footwear and apparel retailer Adidas, and stock market operator Deutsche Boerse, which gained 1.9% and 1.8% each. They were followed by construction materials supplier HeidelbergCement, kidney dialysis company Fresenius Medical Care, and pharmaceutical firm Bayer, which climbed 1.7%, 1.5%, and 1.2% respectively.

And in Paris, public relations firmcommunications company Publicis Groupe, and Essilor International, an ophthalmic optics company, boosted the CAC, rising 2.7% and 2.6% each, followed by luxury goods company Kering, and hotel operator Accor, which gained 2.4% and 1.8% each. Luxury goods company LVMH Moet Hennessy Louis Vuitton SA and chemicals company Solvay were up 1.6% and 1.5% each.

The FTSE fell 0.15%, the DAX gained 0.59%, and the CAC-40 rose 0.40%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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