European stock markets close with an eye on US-Iran and European data

European stock markets closed mostly lower this Wednesday, 1st, in a session marked by caution at the beginning of the second half of the year.

Investors followed the progress of negotiations between the United States and Iran, which helped to ease oil prices, in addition to echoing economic indicators from the euro zone and speeches by central bank directors at the Sintra Forum (Portugal).

In London, the FTSE 100 closed down 0.18%, at 10,478.34 points. In Frankfurt, the DAX rose 0.29%, to 25,069.11 points. In Paris, the CAC 40 lost 0.79%, to 8,337.29 points.

In Milan, the FTSE MIB fell 0.15%, to 51,604.56 points. In Madrid, the Ibex 35 fell 0.30%, to 19,413.20 points. In Lisbon, the PSI 20 dropped 0.46%, to 9,090.47 points. Quotes are preliminary.

Data from the euro zone reinforced expectations that the European Central Bank (ECB) will maintain interest rates until the end of the year, according to Capital Economics.

The bloc's consumer inflation (CPI) slowed to 2.8% in June, below expectations, while the European industrial PMI remained in expansion territory, despite a slight loss of pace.

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In Sintra, the president of the ECB, Christine Lagarde, stated that the euro zone is not experiencing a scenario of stagflation and that the risks to the economy are now more balanced.

Among stocks, Swiss Galderma fell almost 3% after suffering a new regulatory setback from the FDA - the US regulatory body - for a Botox competitor. In London, Associated British Foods fell 3.5%, after warning of losses in the sugar division, despite maintaining other projections.

In Paris, Schneider Electric (-3.4%) and BNP Paribas (-1.1%) pressured the CAC 40. In Frankfurt, Siltronic advanced 7.3% after receiving a positive recommendation from UBS for the semiconductor equipment sector.

In Italy, Eni was on the radar after giving up 2.4% when announcing a commodities trading joint venture with Mercuria. The technology sector, under pressure around the globe, fell 1%.

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Source: CNN