Major European indices close lower despite softer US PPI data and mixed US equities, with mining shares weighing on the FTSE 100.
European shares ended the session lower, diverging from the positive trend in US equities. The declines occurred despite softer-than-expected US producer price index data, which showed headline PPI unchanged in July versus a 0.2% increase forecast, while the year-on-year rate slowed to 4.7% from 5.5%.
The CAC 40 fell 0.28% to 8,650.57, while the FTSE 100 dropped 0.56% to 10,772.68, led by weakness in mining shares. The German DAX declined 0.15% to 26,292.01, and Spain’s Ibex and Italy’s FTSE MIB both slipped 0.18%. Benchmark 10-year yields also declined, with Germany’s yield down -3.4 basis points to 3.134% and Italy’s down -4.6 basis points to 3.899%.
Oil prices remained under pressure, with WTI crude falling to $80.09 before recovering to $82.56, down $0.65 on the day. Demand concerns continue to offset geopolitical supply risks, contributing to the volatility.