European stock markets close Thursday with gains

By Aysu Bicer

ANKARA (AA) – European stock markets ended Thursday with gains following European Central Bank's decision to keep key interest rates stable.

The bank did not change interest rates in line with market expectations despite high inflation in an environment of increased uncertainty due to the Russia-Ukraine war, and confirmed its plan to end its bond purchases.

"Russia's aggression in Ukraine is causing enormous suffering. It is also affecting the economy, in Europe and beyond. The conflict and the associated uncertainty are weighing heavily on the confidence of businesses and consumers," it said in a statement.

In other developments, commercial flights in EU countries increased 156% in March compared to the same period last year.

German automotive manufacturer Volkswagen Group increased its profit before special items 77% to €8.5 billion ($9.1 billion) in the January-March period.

The World Steel Association estimated that global steel demand, which increased 2.7% last year, will increase only 0.4% to 1.84 billion tons in 2022 due to the war.

Giving these, the benchmark index Stoxx Europe 600 increased 0.67% to close at 459.82 points.

The UK's FTSE 100 index rose 0.47% to 7,616.38 points, while Germany's DAX 30 increased 0.62% to 14,163.85 points.

The CAC 40 index in France went up 0.72% to 6,589.35 points and Italy's FTSE MIB 30 index rose 0.57% to 24,862.35 points.

Almost all markets in Europe will be closed tomorrow for Easter holidays.