European stocks close: stocks traded lower due to the weaker-than-expected inflation data in the Eurozone

Stock indices declined due to the weaker-than-expected inflation data in the Eurozone and increasing expectations for further stimulus measures by the European Central Bank (ECB). Eurozone’s inflation increased 0.5% in May, after a 0.7% gain in March. Analysts had expected a 0.7% rise. Inflation target by the European Central Bank (ECB) is 2%.

Investors are awaiting the ECB will cut interest rates and announce measures to boost lending to smaller businesses.

The unemployment rate in the Eurozone fell to 11.7% in April from 11.8% in March. Analysts had expected the unemployment rate remains unchanged.

The number of unemployed people in Spain decreased by 111,900 in May, after a 111,600 decline in April. Analysts had forecasted a 112,300 drop.

Indexes on the close:

Name                                   Price                                    Change                 Change %

FTSE 100                            6,836.30                             -27.80                      -0.41%

DAX                                     9,919.74                             -30.38                      -0.31%

CAC 40                                4,503.69                             -12.20                      -0.27%