European markets close in red as tensions between Russia, West rise

By Aysu Bicer

ANKARA (AA) – European stocks closed with losses Wednesday amid rising tensions between the West and Russia over Ukraine.

After Russia officially recognized two breakaway regions in eastern Ukraine and ordered troops across the border, the EU, UK, US, and Japan on Tuesday announced a series of sanctions on Russia.

Investors have been watching the potential impact of the sanctions on the financial markets.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 1.26 points, or 0.28%, to close at 453.86.

The UK's FTSE 100 index, which was the best performer of the day, was up almost 4 points, or 0.05%, to end the day at 7,498, while Germany's DAX 30 was down 62 points, or 0.42%, to stand at 14,631.

France's CAC 40 lost 6.93 points, or 0.10%, to 6,780 points.

Italy's FTSE MIB diminished 88.88 points, or 0.34%, to close at 25,955 points.

Spain's IBEX 35 decreased 53.10 points, or 0.63%, to hit 8,440 points.