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Europe shares end lower after global IT outage
FTSE down 0.60%; DAX down 1.09%; CAC 40 down 0.69% (Il Sole 24 Ore Radiocor) - London, 19 Jul - European shares closed lower as investors remained on the sidelines as they looked for fresh direction after the European Central Bank yesterday left interest rates unchanged and indicated that a rate hike in September is 'wide open'.
Speaking after the policy decision, ECB head Christine Lagarde said that inflation is expected to fluctuate around current levels for the rest of the year and then decline towards the CB's target over the second half of next year.
"What we will do in September is wide open," Lagarde said.
Investors also assessed news that EU Commission president Ursula von der Leyen won a second term at the helm of the European Union's executive arm.
Also souring sentiment, travel around the world was disrupted after a software update by cybersecurity firm CrowdStrike caused a global IT outage.
Traders also monitored earnings reports from major European companies including Electrolux and Danske Bank.
The London FTSE 100 closed down 0.60% at 8,155.72 points, the Frankfurt DAX dropped 1.09% at 18,162.73 points, the Paris CAC 40 fell 0.69% at 7,534.52 points, while in Milan the FTSE MIB shed 0.91% at 34,215.84 points, and in Madrid the IBEX 35 closed 0.52% lower at 11,090.02 points.
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(RADIOCOR) 19-07-24 18:07:06 (0476) 5 NNNN