European stock markets record worst year since 2018

By Ovunc Kutlu

ISTANBUL (AA) – European stock markets closed with losses on Friday as exchanges recorded their worst annual performance since 2018.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 5.46 points, or 1.27%, to 424.89. It lost more than 12% since the beginning of this year.

The UK's FTSE 100 decreased almost 61 points, or 0.81%, to end the last trading day of the year at 7,451. It fell 1.2% since the start of 2022.

Germany's DAX 30 lost 148 points, or 1.05%, to end the session at 13,983. France's CAC 40 was the worst performer of the day by plummeting 99 points, or 1.52%, to finish at 6,473. They posted losses of 12.5% and 9.5%, respectively, this year.

Italy's FTSE MIB declined 349 points, or 1.45%, to finish Friday at 23,706. Spain's IBEX 35 decreased 89 points, or 1.07%, to close at 8,229.

The indexes had their worst performance in four years as Russia's ongoing war on Ukraine, high inflation, and monetary tightening by central banks hammered investors' appetite, and lowered the amount of liquidity in the markets and for new investments.