European Markets Close Lower

(RTTNews) - European markets closed lower on Thursday as investors stayed cautious and refrained from making significant moves, looking ahead to Fed Chairman Jerome Powell's closing remarks at the Jackson Hole Symposium.

Weak economic data from Germany weighed on sentiment. Gfk forward looking consumer confidence index dropped from -0.4 to -1.2, marking the worst reading in three months as accelerating inflation and rising COVID-19 cases made consumers more hesitant to buy.

Uncertainty over U.S. monetary policy also weighed, with investors awaiting the outcome of the Jackson Hole symposium for clues on the timing of a tapering of monetary stimulus.

The pan European Stoxx 600 declined 0.52%. The U.K.'s FTSE 100 ended 0.35% down, Germany's DAX slid 0.42% and France's CAC 40 lost 0.16%. Switzerland's SMI bucked the trend and gained 0.36%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Netherlands, Poland, Portugal, Russia, Spain, Sweden and Turkey closed weak.

Denmark, Greece, Ireland and Norway moved higher, while Finland and Iceland ended flat.

Travel-related stocks fell amid lingering worries about the spread of the coronavirus of the Delta variant.

In the UK market, Polymetal International, Melrose Industries and Antofagasta shed 3.6%, 3.3% and 2.7%, respectively. Rio Tinto, Aviva, BHP Group, St. James Plc, Mondi, Anglo American Plc, Whitbread and Glencore lost 1 to 2%.

CRH rallied nearly 4%. ITV gained about 1.6%, while Ocado Group, Royal Mail, Natwest Group, Hikma Pharmaceuticals, Tesco and Pershing Square Holdings posted modest gains.

In the French market, ArcelorMittal, Veolia, Air France-KLM, Hermes International, Accor, Sodexo and Renault lost 1 to 2%.

Shares of Faurecia gained about 1.2%. Vivendi gained more than 2.5%. Universal Music Group, a unit of the French media conglomerate, said it expects further revenue growth this year and it would pay out half of its profits as dividends in the medium term.

Bouygues gained about 1%. The industrial group raised its guidance after reporting strong growth in sales and earnings during the first half of 2021.

In Germany, Puma, Deutsche Bank and Lufthansa lost more than 2%. Henkel, Bayer and RWE also ended notably lower. Thyssenkrupp moved up by over 1%.

Deutsche Bank's asset management arm DWS Group plunged nearly 14% on a report the company is being investigated by U.S. authorities over sustainability claims.