European stocks close lower after previous rally

By Ovunc Kutlu

ANKARA (AA) - European stocks closed lower Wednesday, retreating from rallies in the previous session.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 2.82 points, or 0.59%, to 477.36 after rising 2.45% on Tuesday.

London's FTSE 100 lost 2.85 points, or 0.04%, to end at 7,337 despite gaining 1.49% the previous day.

Germany's DAX 30 was off 126, or 0.8%, to 15,687 points after soaring 2.82% in the last session.

France's CAC 40 fell 50 points, or 0.72%, to 7,014. The index jumped 2.91% on Tuesday.

Italy's FTSE MIB 30 was the worst performer of the day, plummeting 386 points, or 1.42%, to end the day at 26,751. It gained 2.4% in the previous session.

Spain's IBEX 35 decreased 81 points, or 0.95%, to close at 8,478 after gaining 1.4% on Tuesday.