(RTTNews) - The major European markets closed lower on Thursday after posting strong gains earlier in the week. The markets opened mixed but quickly tailed off and trended lower, ending near session lows.
The lackluster performance by the broader markets come in reaction to recent gains, which had reflected optimism about a peaceful end to the conflict in the Middle East - although that situation remains unclear.
Germany's DAX slumped 255.08 points or 1.02 percent to close at 24,663.61, while London's FTSE sank 161.71 points or 1.55 percent to finish at 10,276.95, the CAC 40 in France dropped 97.34 points or 1.17 percent to end at 8,202.08 and the SMI in Switzerland tumbled 147.83 points or 1.11 percent to close at 13,135.43.
In Germany, Rheinmetall plunged 6.94 percent, while Daimler Truck tumbled 5.93 percent, Siemens Energy retreated 2.78 percent, Deutsche Borse dropped 2.10 percent, Vonovia sank 1.35 percent, Deutsche Telekom lost 0.43 percent, Deutsche Bank dipped 0.18 percent, Adidas jumped 2.53 percent, Deutsche Post gained 1.07 percent and Mercedes-Benz rose 0.28 percent.
In London, RELX plummeted 6.21 percent, while Shell plunged 2.88 percent, British American Tobacco tanked 2.37 percent, Vodafone tumbled 1.90 percent, Barclays contracted 1.65 percent, HSBC dropped 1.59 percent, Rolls-Royce skidded 1.58 percent, Glencore shed 0.79 percent, Rio Tinto lost 0.47 percent, Antofagasta rose 2.10 percent and Fresnillo jumped 5.81 percent.
In France, Bouygues tumbled 3.66 percent, while Schneider Electric contracted 2.65 percent, Engie declined 2.58 percent, Danone dropped 2.53 percent, Orange skidded 2.48 percent, Sanofi slumped 1.21 percent, Veolia Environment sank 0.80 percent, Credit Agricole shed 0.55 percent, Societe Generale lost 0.53 percent and BNP Paribas and Carrefour both slipped 0.18 percent.
In Switzerland, Swiss Re cratered 3,19 percent, while Novartis stumbled 2.02 percent, Nestle retreated 1.44 percent, Swiss Life and SGS both dropped 1.14 percent, Zurich Insurance sank 1.05 percent, UBS lost 0.88 percent, Swisscom and Julius Bar both slipped 0.30 percent, Adecco added 0.33 percent and Swatch Group surged 5.85 percent.
In economic news, Germany's construction activity contracted at the sharpest pace in 13 months in March as Middle East tensions impact overall industry performance, survey data from S&P Global showed Thursday. The construction Purchasing Managers' Index fell to 42.1 in April from 48.0 in March. The score was the lowest since March 2025.
Switzerland's unemployment rate decreased further in April to the lowest level in five months, the State Secretariat for Economic Affairs said on Thursday. The unemployment rate dropped to 3.0 percent in April from 3.1 percent in March. In the corresponding month last year, the jobless rate was 2.8 percent. This was the lowest rate since November 2025, when it was 2.9 percent.
Eurozone retail sales dropped marginally in March as reduced food and auto fuel sales were partially offset by the increased non-food product sales, official data revealed Thursday. Retail sales dropped 0.1 percent on a monthly basis in March, marking the third consecutive fall, Eurostat reported. However, this was slower than the 0.3 percent decrease posted in February. Sales were expected to drop again by 0.3 percent in March.
France's foreign trade deficit increased in March as imports grew faster than exports, data from the customs office revealed on Thursday. The trade gap widened to EUR 6.9 billion in March from EUR 5.5 billion in February. The expected deficit was EUR 5.6 billion. In the corresponding month last year, the shortfall was also EUR 5.5 billion.
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