European stock markets close higher as ECB meeting looms

By Ovunc Kutlu

ANKARA (AA) - All major indices in Europe closed Tuesday in positive territory in the runup to Thursday’s European Central Bank's (ECB) meeting.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, rose 3.53 points, or 0.75%, to close at 475.74.

London's FTSE 100 was up 54 points, or 0.76%, to close at 7,277 after it hit a record high level of 7,281.17 points.

Germany's DAX 30 was the best performer of the day, jumping 157 points, or 1.01%, to 15,757.

France's CAC 40 gained 53 points, or 0.08%, to 6,766.

Italy's FTSE MIB 30 climbed 155 points, or 0.58%, to end the day at 26,970 after it reached a new all-time high of 27,049.32 points.

​​​​​​​Spain's IBEX 35 went up 80 points, or 0.9%, to close at 9,001.

The record high levels came before the Thursday ECB meeting, where the central bank is not expected to increase interest rates.

ECB President Christine Lagarde is expected to continue her cautious tone, but her comments on high inflation and rising energy and food prices will be closely watched.

Any change in the central bank's €1.85 trillion ($2.14 trillion) Pandemic Emergency Purchase Program (PEPP) is likely to be delayed until December to continue providing liquidity to the markets and support European economies.