European exchanges close with major losses

European exchanges close with major losses

Italy's FTSE MIB performs worst, diving 2.18%; 3 exchanges lose around 2% each

By Ovunc Kutlu

ISTANBUL (AA) - Stock exchanges in Europe closed Thursday with major losses, as industrial production in April decreased both in the euro area and the EU on an annual basis.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 6.85 points, or 1.31%, to close at 516.04.

The UK's FTSE 100 shed 51 points, or 0.63%, to 8,163. Germany's DAX dove 365 points, or 1.96%, to 18,265.

France's CAC 40 slumped 156 points, or 1.99%, to end the session just below 7,708.

Spain's IBEX 35, meanwhile, decreased 179 points, or 1.59%, to close at 11,066.

Italy's FTSE MIB was the worst performer of the day, plummeting almost 749 points, or 2.18%, to end the day at 33,609.

In April, industrial production decreased 3% in the euro area and 2% in the EU, compared to the same month of last year, the Eurostat announced earlier.

On a monthly basis, seasonally adjusted industrial output declined 0.1% in the euro area, but increased 0.5% in the EU, according to first estimates from the statistical office.

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