European stocks close mostly lower with high producer prices

By Ovunc Kutlu

ISTANBUL (AA) - European stocks closed with losses on Friday, except for Germany's exchange, with producer prices rising above 30% year-on-year.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 0.67 points, or 0.15%, to 443.29.

The UK’s FTSE 100 lost 2.26 points, or 0.03%, to close at 7,556.

France’s CAC 40 lost 11 points, or 0.17%, to 6,742, while Italy’s FTSE MIB shed 63 points, or 0.26%, to finish at 24,621.

Spain’s IBEX 35 shed 25 points, or 0.3%, to 8,382 at the closing bell.

Germany’s DAX 30, on the other hand, was the only positive performer of the day, gaining 39 points, or 0.27%, to end the final trading day of the week at 14,529.

On an annual basis, industrial producer prices were up 30.8% in the euro area and 31.2% in the EU during October, compared to the same month a year ago, Eurostat announced earlier.

Industrial producer prices, however, were down 2.9% in the euro area and 2.5% in the EU during October from the previous month, the statistical office said.

In the energy sector, industrial producer prices in the euro area jumped 65.8% on an annual basis in October.