European stocks close Friday lower with recession woes

By Ovunc Kutlu

ISTANBUL (AA) - European stock exchanges closed Friday lower with recession woes.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 0.69 point, or 0.15%, to finish at 460.01.

The UK's FTSE 100 lost 37 points, or 0.49%, to end the session at 7,562. Germany's DAX 30 shed 40 points, or 0.25%, to 15,949.

France's CAC 40, meanwhile, decreased nine points, or 0.12%, to close at 7,213.

Italy's FTSE MIB was the worst performer of the day, plummeting 113 points, or 0.41%, to 27,162.

Spain's IBEX 35 trimmed 28 points, or 0.31%, to end at 9,309.

The gross domestic product (GDP), seasonally adjusted, decreased by 0.1% in the euro area during the first quarter of 2023, Eurostat, the statistical office of the EU, announced Thursday.

Eurostat said GDP had decreased by 0.1% in the euro area and by 0.2% in the EU in the fourth quarter of 2022.