European stock markets close mixed

By Tuba Sahin

ANKARA (AA) - European stock markets closed mixed Thursday as investors assessed the European Central Bank (ECB) rate hike for the first time in more than a decade after eurozone inflation hit its highest level on record.

Euro area annual inflation spiked to 8.6% in June, far above the ECB’s 2% inflation target.

The bank’s Governing Council decided to raise three key rates higher than expected by 50 basis points.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was up by 1.88 points, or 0.44%, to finish the day at 424.40.

The UK’s FTSE 100 rose 6.2 points, or 0.09%, to close at 7,270, while Germany’s DAX 30 fell 35.3 points, or 0.27%, to 13,246..

France’s CAC 40 was up 16.45 points, or 0.27%, to 6,210.

Italy’s FTSE MIB was off 151.8 points, or 0.71%, to end at 21,197.

Spain’s IBEX 35 fell 16.2 points, or 0.20%, to finish at 8,013.