European stocks close lower as industrial output falls

By Ovunc Kutlu

ANKARA (AA) - European stocks closed lower Wednesday, except Italy, as industrial output fell in July on monthly and annual basis.

Industrial production fell 2.3% in the euro area and 1.6% in the EU during the month of July, compared to the previous month, according to Eurostat data released earlier.

On an annual basis, industrial output decreased 2.4% in the euro area and 0.8% in the EU, compared to the same month of last year, the statistical office said.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 3.62 points, or 0.86%, to finish at 417.51.

The UK's FTSE 100 performed worst, plummeting 108 points, or 1.47%, to end the day at 7,277.

Germany's DAX 30 was off 160 points, or 1.22%, to close at 13,028. France's CAC 40 fell 23 points, or 0.37%, to 6,222.

Spain's IBEX 35 declined 8.40 points, or 0.1%, to 8,055 at the closing bell.

Italy's FTSE MIB, on the other hand, increased 109 points, or 0.49%, to 22,413.