European exchanges rally to close with major gains

By Ovunc Kutlu

ISTANBUL (AA) - European stock exchanges rallied Thursday to finish the session with major gains, a day after positive macroeconomic figures.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European markets in 17 countries, was up 5.78 points, or 1.15%, at 509.88.

The UK’s FTSE 100 increased 66 points, or 0.8%, to close the session at 8,347.

Germany’s DAX was the best performer of the day, soaring 297 points, or 1.66%, to end the day at 18,183.

France’s CAC 40 rose 90 points, or 1.23%, to reach 7,423. Italy’s FTSE MIB added 321 points, or 1%, to 32,328.

Spain’s IBEX 35 increased 132 points, or 1.23%, to 10,885 at the closing bell.

In the second quarter of this year, seasonally adjusted GDP increased by 0.3% in both the euro area and the EU, compared with the previous quarter, according to a flash estimate released Wednesday by Eurostat.

The employment rate increased by 0.2% in both the euro area and the EU in the second quarter, compared with the previous quarter, said the statistical office of the EU.