Stock markets in Western Europe are falling during trading on Wednesday, the focus of traders this week is the meeting of the European Central Bank (ECB). The results of the ECB meeting will be summed up on Thursday. As expected, at this meeting, the regulator will announce plans to stop buying assets and raise the rate to a non-zero level for the first time in eight years. Earlier this was stated by the head of the ECB Christine Lagarde. The rate hike is needed to contain inflation in the euro area, which reached a record 8.1% in annual terms in May, according to preliminary data from the European Union Statistics Office. Inflation is over four times the 2% target. Meanwhile, industrial production in Germany rose 0.7% in April compared to the previous month, according to data from the country’s Federal Statistical Office (Destatis). Analysts expected a more significant increase in the indicator – by 1%, according to Trading Economics. In March, the volume of industrial production in Germany, according to revised data, fell by 3.7%, and not by 3.9%, as previously reported. The economies of the 19 eurozone countries expanded by 0.6% in the first quarter compared to the previous quarter, according to final data from the European Union Statistical Office (Eurostat). Earlier it was reported an increase of 0.3%. Analysts, on average, did not expect a revision, according to polls by Trading Economics and The Wall Street Journal. The composite index of the largest companies in the region Stoxx Europe 600 by 13:03 Moscow time fell by 0.55% and amounted to 440.45 points. As of 13:51 Moscow time, the German DAX index lost 0.51%, the French CAC 40 – 0.71%, the British FTSE 100 – 0.38%. The Italian FTSE MIB and the Spanish IBEX 35 are down 0.33% and 0.05% respectively. Shares of French Pernod Ricard SA fall 1.9%. One of the world’s largest spirits producers has set targets for the next few years as it seeks to achieve sustainable revenue growth amid heavy spending on promotion and data usage. Spanish Industria de Diseno Textil SA (Inditex), one of the world’s largest clothing retailers, increased its net profit in the first financial quarter by 1.8 times, revenue – by 36%. The company’s shares are up 4.4%. SAS AB added 1.7% in price. The Scandinavian airline carried 1.826 million passengers in May, up 18% from the previous month. Prosus NV was the top performer among the Stoxx Europe 600 components, up 8.3%. Source: FINMARKET.RU

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