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European stocks excluding London's FTSE 100 index dropped due to the escalation of the situation in Ukraine. Even the better-than-expected U.S. labour market data could not change anything. The U.S. inflation rate dropped to 6.3% in April from 6.7% in March. It is the lowest level in more than 5 years. Analysts forecasted the decrease to 6.6%. 288,000 new nonfarm jobs were created in April, the biggest growth in one month since the start of 2012. March’s figure was revised up to 203,000 from 192,000. The projected figure was an increase of 211,000.
London's FTSE 100 index was supported by the better-than-expected quarter earnings of Royal Bank of Scotland Group Plc.
Earlier in the trading session, market participants were disappointed by Spain’s manufacturing purchasing managers' index (PMI). The index dropped to 52.7 in April from 52.8 in March. Analysts expected an increase to 53.4. But Eurozone’s PMI was higher. The index climbed to 53.4 in April from 53.0 in March (forecast: 53.3). Eurozone’s unemployment decreased slightly in March. The unemployment rate dropped to 11.8% from 11.9% in February (forecast: 11.9%).
Royal Bank of Scotland Group Plc shares increased 8.2% after announcing the better-than-expected quarter earnings. Company’ net income tripled in the first quarter of the year.
InterContinental Hotels Group Plc was higher 8.2% after announcing the growth of 6% in the first quarter.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,822.42 +13.55 +0.20%
DAX 9,556.02 -47.21 -0.49%
CAC 40 4,458.17 -29.22 -0.65%
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