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European Equities Close Lower in Tuesday Trading; Apple, Google Lose Appeals Against European Commission
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European Equities Close Lower in Tuesday Trading; Apple, Google Lose Appeals Against European Commission
Sep 11, 2024 12:08 AM

12:26 PM EDT, 09/10/2024 (MT Newswires) -- The European stock markets closed lower in Tuesday trading as the Stoxx Europe 600 lost 0.49%, the Swiss Market Index was off 0.13%, France's CAC fell 0.24%, the FTSE in London dropped 0.78%, and Germany's DAX closed 0.89% lower.

In Germany, the consumer price index was 1.9% in August compared with the same month last year, marking the first time inflation has dipped below 2% in more than 3 years, according to the German Federal Statistical Office.

In the UK, job vacancies between the period of June to August decreased 4.7% compared with the period of March to May, according to the Office for National Statistics.

And in corporate news, the European Union's Court of Justice Tuesday denied Apple's appeal against a European Commission order to pay 13 billion euros ($14.35 billion) in back taxes to Ireland. Apple did not immediately reply to MT Newswires' request for comment.

The EU's Court of Justice also denied on Tuesday Alphabet unit Google's appeal against a 2.4-billion-euro penalty imposed by the European Commission in 2017 for anti-competitive practices. Google did not immediately respond to MT Newswires' request for comment on the matter.

Shares of AstraZeneca closed 2.4% lower in London after the pharmaceutical company reported Monday that overall survival rates in a phase 3 trial of potential lung cancer treatment datopotamab deruxtecan did not reach statistical significance compared with docetaxel.

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