European stocks close in red despite gains in GDP, employment

By Ovunc Kutlu

ISTANBUL (AA) - European stocks closed in the red Wednesday despite gains in the gross domestic product (GDP) and employment.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 2.72 points, or 0.62%, to 436.20.

The UK’s FTSE 100 declined 32 points, or 0.43%, to end the third trading day of the week at 7,489.

Germany’s DAX 30 fell 82 points, or 0.57%, to finish at 14,261. France’s CAC 40 lost 27 points, or 0.41%, to close at 6,660.

Italy’s FTSE MIB shed 24 points, or 0.1%, to 24,241, while Spain’s IBEX 35 dropped 41 points, or 0.5%, to 8,290 at the closing bell.

GDP rose 0.3% in the euro area and 0.4% in the EU during the third quarter, compared to the previous quarter, according to estimates announced by Eurostat earlier.

The figure rose 2.3% in the euro area and 2.5% in the EU during the July-September period, compared to the same period of last year.

The number of employed Europeans increased 0.3% in the euro area and 0.2% in the EU in the third quarter, compared to the previous quarter, said the statistical office of the EU.

Employment rose 1.8% in the euro area and 1.5% in the EU in the third quarter, compared to the same quarter of 2021, it added.