European markets close in positive territory despite high inflation

By Ovunc Kutlu

ANKARA (AA) - European stocks closed with gains Tuesday despite inflation in the euro area remaining high.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was up almost 6 points, or 1.28%, to close at 474.86.

The UK's FTSE 100 index gained 71 points, or 0.96%, to end the day at 7,535. Germany's DAX 30 was up 148 points, or 0.96%, to reach 15,619.

France's CAC 40 added 100 points, or 1.43%, to 7,099 points.

Italy's FTSE MIB was the best performer of the day, adding 410 points, or 1.53%, to close at 27,224 points.

Spain's IBEX 35 rose 113 points, or 1.32%, to reach 8,726.

Unemployment in the euro area stood at 7% in December, down from 7.1% in November, according to the bloc’s statistical office, Eurostat.