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Europe Markets: European stocks finish lower after Merkel says euro ‘too weak’

European stocks ended a choppy session slightly lower, weighed by German stocks, as the euro rallied after comments about the shared currency by German Chancellor Angela Merkel.

Speaking at an event with students in Berlin, Merkel blamed European Central Bank policies for making the euro “too weak” and said it has made German products cheaper. Those comments sent the euro EURUSD, +0.2320%to an intraday high of $1.1265, the highest level since November.

The stronger currency weighed on Germany’s DAX 30 index DAX, -0.15% which is made up of companies that are heavily dependent on exports. The benchmark fell 0.2% to end at 12,619.46, led by a 1.3% loss for industrial heavyweight Siemens AG SIE, -1.16%SIEGY, -0.78%

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