Europe closes lower after monetary policy decisions
European stock markets closed lower on Thursday, as the global trading world assessed the ongoing conflict between Israel and Iran, as well as potential involvement from the United States. Regarding monetary policy, the Bank of England decided to keep the interest rate steady at 4.25%. Turkey's central bank also left its rates unchanged at 46%. Meanwhile, the Swiss National Bank cut rates to 0.00%. On the economic data front, the construction output in the Eurozone saw a monthly growth of 1.7% in April.
The DAX ended the session down by 1.12% as Zalando SE underperformed by 4.36%. The French CAC 40 lost 1.34%, while Teleperformance SE tumbled by 4.06%. The FTSE 100 slipped by 0.58% at the closing bell, dragged down by Persimmon PLC with a 3.44% loss. The pan-European Euro Stoxx 50 fell 1.33%, as Adyen NV declined by 3.47%.
The euro traded 0.17% lower against the dollar, going for $1.14636 at 5:35 pm CET, while the British pound traded flat, going for $1.34279.