European stocks close lower except UK, after ECB rate hike

By Ovunc Kutlu

ISTANBUL (AA) – European stocks closed with losses on Thursday, except for the UK exchange, after the European Central Bank's (ECB) rate hike decision.

The ECB, earlier, raised its three key policy interest rates by 25 basis points, taking its main rate to 3.5% -- the highest level in 22 years.

This marks the eighth consecutive rate hike by the central bank since July 2022, as it tries to lower record-high inflation.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European markets in 17 countries, was down 0.61 points, or 0.13%, to close at 464.33.

Germany’s DAX 30 lost 20 points, or 0.13%, to finish the fourth trading day of the week at 16,290.

France’s CAC 40 was the worst performer of the day, plummeting 37 points, or 0.51%, to 7,290,

Italy’s FTSE MIB declined 77 points, or 0.28%, to 27,731 at the closing bell, while Spain’s IBEX 35 decreased just two points, or 0.02%, to 9,430.

The UK’s FTSE 100, on the other hand, increased 25 points, or 0.34%, to close at 7,628.