European stocks close lower, except Germany despite rising annual inflation

By Ovunc Kutlu

ANKARA (AA) - European stocks closed with losses on Thursday, except Germany's exchange despite annual inflation rising to a fresh record level.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 1.79 points, or 0.42%, at 428.38.

The UK's FTSE 100 decreased 4.65 points, or 0.06%, to close at 7,346. France's CAC 40 declined 31 points, or 0.47%, to end at 6,576.

Italy's FTSE MIB was the worst performer of the day, falling 191 points, or 0.78%, to 24,339 at the closing bell.

Spain's IBEX 35 lost 60 points, or 0.75%, to 8,040.

Germany's DAX 30, on the other hand, rose 32 points, or 0.23%, to finish the fourth trading day of the week at 14,266.

Euro area annual inflation came in at 10.6% in October 2022, up from 9.9% in September. A year earlier, the rate was 4.1%, according to Eurostat, the EU statistical office.

EU annual inflation was 11.5% in October 2022, up from 10.9% in September. A year earlier, the rate was 4.4%, Eurostat said earlier.