European exchanges close with major losses

By Ovunc Kutlu

ISTANBUL (AA) - Stock exchanges in Europe closed Thursday with major losses, as inflation and unemployment inched up.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 6.35 points, or 1.23%, to close at 511.83.

The UK's FTSE 100 shed 84 points, or 1.01%, to 8,283. Germany's DAX dove 425 points, or 2.3%, to 18,083.

France's CAC 40 slumped 161 points, or 2.14%, to end the session just below 7,370.

Spain's IBEX 35, meanwhile, decreased 210 points, or 1.9%, to close at 10,854.

Italy's FTSE MIB was the worst performer of the day, plummeting 906 points, or 2.68%, to end the day at 32,857.

Unemployment rate in the euro area rose to 6.5% in June on a seasonally-adjusted basis, up from 6.4% in May, the Eurostat announced earlier.

Annual inflation in the euro area is expected to be 2.6% in July, up from 2.5% in June, according to a flash estimate from Eurostat released Wednesday.