European stocks close higher except Germany, STOXX after ECB meeting

By Ovunc Kutlu

ISTANBUL (AA) - European stocks closed higher Thursday except in Germany and the major STOXX index after the conclusion of the European Central Bank's (ECB) monetary policy meeting.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 0.82 points, or 0.16%, to finish at 514.01.

Germany's DAX 30 decreased 82 points, or 0.45%, to end the session at 18,354.

The UK's FTSE 100, on the other hand, rose 17 points, or 0.21%, to almost 8,205 and France's CAC 40 added 15 points, or 0.21% to 7,586.

Italy's FTSE MIB was the best performer of the day, soaring 149 points, or 0.43%, to close at 34,529.

Spain's IBEX 35, meanwhile, increased 42 points, or 0.38%, to end the day at 11,147.

The ECB's Governing Council said earlier to keep the three key interest rates unchanged. The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.25%, 4.50% and 3.75%, respectively.

President Christine Lagarde said in a post-meeting conference that the ECB will follow a macroeconomic data-dependent and meeting-by-meeting approach in determining the appropriate level and duration of monetary restriction.

She said the Governing Council is determined to ensure that inflation returns to the 2% medium-term target in a timely manner, and it will keep policy rates "sufficiently restrictive for as long as necessary" to achieve this goal.