European exchanges finish week on strong note, closing with major gains

By Ovunc Kutlu

ISTANBUL (AA) — European stock exchanges closed Friday with major gains to finish the week on a strong note.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European markets in 17 countries, was up 5.31 points, or 1.11%, at 483.84.

The UK’s FTSE 100 jumped 105 points, or 1.4%, to close the session at 7,635.

France’s CAC 40 was the best performer of the day, soaring almost 170 points, or 2.28%, to reach 7,634.

Germany’s DAX 30 added 54 points, or 0.32%, to end the day at 16,961 and Italy’s FTSE MIB rose 221 points, or 0.73%, to 30,379.

Spain’s IBEX 35 increased 20 points, or 0.2%, to 9,936 at the closing bell.

The rally in exchanges came a day after the European Central Bank kept the three key interest rates unchanged at record-high levels, pointing to "tight financing conditions" dampening demand, and helping to push down inflation.

The interest rate on the main refinancing operations and interest rates on the marginal lending facility and the deposit facility were kept unchanged at 4.50%, 4.75% and 4.00%, respectively.