European stocks close lower as investors focus on Ukraine-Russia war

By Aysu Bicer

ANKARA (AA) - European stock markets closed lower on Tuesday as investors focused on developments related to the Russia-Ukraine war.

Russia has commenced the second phase of its "special military operation" in Ukraine's eastern Donbas region, Foreign Minister Sergey Lavrov said on Tuesday.

The UK has announced plans to revoke the recognized exchange status of the Moscow Stock Exchange (MOEX).

German chemical and consumer goods firm Henkel also decided to exit its business activities in Russia due to the war in Ukraine.

Stellantis, one of the world's leading automotive manufacturers, stopped production at its factory in Russia due to logistical difficulties and sanctions imposed on Moscow.

With these developments, the benchmark index Stoxx Europe 600 decreased by 0.77% to 456.28 points.

The UK's FTSE 100 index went down by 0.2% to 7,601.28 points, while Germany's DAX 30 index decreased by 0.07% to 14,153.46 points.

France's CAC 40 index also diminished by 0.83% to 6,534.79 points, while Italy's FTSE MIB 30 index decreased by 0.96% to 24,624.41 points.