EU STOCKS remain under pressure after EMU data

European stock markets remain under pressure after EMU data.

The latest string of Eurozone data showed Q1 GDP came in below expectations, while April CPI met forecast.

Eurozone gross domestic product grew 0.2% in the first quarter 2014 and 0.9% YoY, missing expectations of 0.4% and 1.1% respectively. Meanwhile, consumer inflation rose 0.2% in April and 0.7% YoY, matching market’s consensus.

Meanwhile, Germany’s gross domestic product improved by 0.8% in the first three months of the year, marking the most rapid expansion since the first quarter of 2011. In the fourth quarter of 2013, the German economy grew by 0.4%.

Carphone Warehouse Group PLC climbed 1.5% after the cellphone retailer announced an all-share merger with Dixons Retail PLC worth 3 billion pounds ($5 billion). Dixons Retail shares dropped 1.6%.

Hennes & Mauritz AB put on 2.5% after the Swedish fashion retailer said its total sales in April, including VAT, increased by 17% in local currencies compared with the same month last year.

European Central Bank Vice President Vitor Constancio reportedly said Thursday that the central bank is determined to act “swiftly” if needed to battle the low inflation levels and didn’t rule out further monetary easing.

France’s CAC 40 index was 0.16% down, while Germany’s DAX 30 index retreated 0.01%. The U.K.’s FTSE 100 index slipped 0.02%.

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