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European stock markets close higher except for Spain

European stock markets close higher except for Spain
Euro against US dollar still at its lowest level since December 2002

By Ovunc Kutlu

ANKARA (AA) - European stock exchanges closed higher on Wednesday, except for Spain, to recover partially from Tuesday's 2% loss with a gain in retail sales.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was up 6.66 points, or 1.66%, to finish the day at 407.34.

The UK’s FTSE 100 rose 82 points, or 1.17%, to end the day at 7,107 and Germany’s DAX 30 added 193 points, or 1.56%, to close at 12,594.

France’s CAC 40 was the best performer of the day by soaring 117 points, or 2.03%, to 5,912.

Italy’s FTSE MIB was up 215 points, or 1.04%, to finish at 20,921.

Spain’s IBEX 35, on the other hand, declined 10 points, or 0.14%, to end the day at 7,948.

The euro continued to fall against the US dollar, sinking to 1.0162 – its lowest value since Dec. 13, 2002.

In May, retail sales increased 0.2% in the euro area and 0.8% in the EU, compared to the same month of last year.

source: News Feed
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