European stocks close with losses despite declines in unemployment

Unemployment falls to 6.6% in euro area, 6% in EU

By Ovunc Kutlu

ANKARA (AA) - European stock markets closed with losses on Thursday despite declines in unemployment.

The euro area unemployment rate came in at 6.6% in July, falling from 6.7% the previous month, and down from 7.7% the same month of last year, Eurostat announced earlier.

The unemployment rate in the EU was 6% in July, down from 6.1% in June 2022 and from 6.9% in July 2021, the statistical office said in a statement.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 7.46 points, or 1.8%, to finish at 407.66.

The UK's FTSE 100 was the worst performer of the day, losing 135 points, or 1.85%, to finish at 7,148.

Germany's DAX 30 declined 204 points, or 1.6%, to close at 12,630. France's CAC 40 shed 90 points, or 1.48%, to end at 6,034.

Italy's FTSE MIB was down 257 points, or 1.2%, to 21,302.

Spain's IBEX 35 fell 80 points, or 1%, to 7,806 at the closing bell.

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