European exchanges fall more than 1% each

By Ovunc Kutlu

ISTANBUL (AA) - European stocks closed lower Wednesday as most exchanges lost more than 1% apiece.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European markets in 17 countries, was down 4.11 points, or 0.86%, to finish at 474.40.

The UK’s FTSE 100 lost 39 points, or 0.51%, to close the second trading day of the year at 7,682. Germany’s DAX 30 fell almost 231 points, or 1.38%, to 16,538.

France’s CAC 40 was the worst performer of the day, plummeting 119 points, or 1.58%, to 7,411.

Italy’s FTSE MIB was off 423 points, or 1.39%, to end the session at 30,100. Spain’s IBEX 35 lost 128 points, or 1.26%, to 10,053 at the closing bell.