European stocks close: stocks dropped due to the weak growth in the Eurozone

The stock indices stocks dropped due to the weak growth in the Eurozone. Eurozone’s gross domestic product increased 0.2% in the first quarter, from a 0.2% decrease in the previous month. Analysts had expected a 0.4% rise. On a yearly basis, the GDP in the Eurozone rose 0.9%, missing expectations for an increase of 1.1%.

On a yearly basis, Eurozone’s harmonized consumer price index was unchanged at 0.7% in April. Analysts had forecasted this figure. On a monthly basis, the consumer price index in the Eurozone rose 0.2% April, from a 0.9% gain in March. The inflation rate is still well below the ECB's 2% inflation target.

Thomas Cook Group Plc shares declined 12.0% after posting the weak earnings results.

Richemont shares increased 4.0%, as the company’s results were exceeding analysts’ forecasts.

Deutsche Post AG shares decreased 5.2% after reporting its first quarter results, missing analysts’ forecasts.

Indexes on the close:

Name                                   Price                                    Change                 Change %

FTSE 100                             6,840.89                              -37.60                     -0.55%

DAX                                      9,656.05                             -98.34                      -1.01%

CAC 40                                 4,444.93                              -56.11                     -1.25%