European stocks close higher after unscheduled ECB meeting

By Ovunc Kutlu

ANKARA (AA) - European stock markets closed higher on Wednesday after the European Central Bank's (ECB) Governing Council met unscheduled to view the current market conditions.

"The pandemic has left lasting vulnerabilities in the euro area economy which are indeed contributing to the uneven transmission of the normalization of our monetary policy across jurisdictions," the ECB said in a statement.

The council decided to apply "flexibility" in reinvesting redemptions coming due in the Pandemic emergency purchase programme portfolio, it added.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, rose 5.78 points, or 1.42%, to finish at 413.10.

The UK's FTSE increased 85 points, or 1.2%, to end at 7,273.

Germany's DAX 30 added 180 points, or 1.36%, to 14,485. France's CAC 40 rose 80 points, or 1.35%, to 6,030.

Italy's FTSE MIB was the best performer of the day by soaring 626 points, or 2.87%, to end the day at 22,473.

Spain's IBEX 35 increased 108 points, or 1.34%, to close at 8,174.