By Ovunc Kutlu
ANKARA (AA) – European stocks closed mixed on Friday at the last trading day of the month as inflation hit the highest level in 13 years, but all indices posted strong monthly gains in October.
The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was flat, adding only 0.35 points, or 0.07%, to close at 475.51. The index gained 5.26% in October, according to data compiled by Anadolu Agency.
London's FTSE 100 was down almost 12 points, or 0.16%, closing at 7,237. Germany's DAX 30 lost 7 points, or 0.05%, to 15,688. For the month, they were up 2.13% and 4.3%, respectively.
Italy's FTSE MIB 30 decreased 14 points, or 0.05%, to end the day at 26,875. It jumped 6.2% during the month of October.
France's CAC 40, on the other hand, was the best performer for the second consecutive day, adding 26 points, or 0.38%, to 6,830. It soared 6.37% this month.
Spain's IBEX 35 increased almost 32 points, or 0.35%, to close at 9,057. It increased 4.2% in October.
Euro area annual inflation is expected to be 4.1% this October, up from 3.4% in September, according to a flash estimate of preliminary data from Eurostat, the European Union’s statistical office, earlier Friday.
The data came well above market expectation of 3.7%, and it marks the highest level since July 2008.