European stocks close lower as inflation climbs

Annual inflation in August rises to 9.1% in euro area, 10.1% in EU

By Ovunc Kutlu

ANKARA (AA) – European stock markets closed lower on Friday as inflation continued to climb in the eurozone and the EU.

The euro area annual inflation rate came in at 9.1% in August, up from 8.9% in July, while annual inflation in the EU rose to 10.1% in August, up from 9.8% the previous month, according to Eurostat figures released earlier.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 6.54 points, or 1.58%, to 408.24.

The UK’s FTSE 100 declined 45 points, or 0.62%, to end the day at 7,236.

Germany’s DAX 30 performed the worst, plummeting 215 points, or 1.66%, to 12,741.

France’s CAC 40 lost 80 points, or 1.3%, to 6,077. Italy’s FTSE MIB fell 254 points, or 1.14%, to 22,110.

Spain’s IBEX 35 decreased 100 points, or 1.25%, to 7,984 at the closing bell.

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