European stocks close lower as trade deficit jumps

F.P. Report

ISTANBUL: European stock markets closed in negative territory on Friday amid a rising trade deficit.
The euro area saw a €26.5 billion ($28.1 billion) trade deficit in goods with the rest of the world during the month of October, according to figures from Eurostat released earlier.

While exports of goods showed an increase of 18% year-on-year, imports soared 30.7% compared to the same month a year ago, the bloc’s statistical office said. The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 5.17 point, or 1.2%, to 424.74.

The UK’s FTSE 100 lost 94 points, or 1.27%, to close at 7,332. Germany’s DAX 30 dove 93 points, or 0.67%, to end the session at 13,893. France’s CAC 40 decreased 70 points, or 1.08%, to finish the final trading day of the week at 6,452. Italy’s FTSE MIB fell 37 points, or 0.16%, to 23,688.

Spain’s IBEX 35 was the worst performer of the day, plummeting 106 points, or 1.29%, to 8,112 at the closing bell. (APP)