Economy

European markets close lower as inflation rises to 3.2%

France's CAC 40 plummets 1.4% this week, Spain's IBEX 35 posts weekly gain of 0.75%

Ovunc Kutlu   | 17.09.2021
European markets close lower as inflation rises to 3.2%

ANKARA

European stock markets closed lower on Friday, except Spain, as consumer prices in the EU rose to 3.2% in August, up from 2.5% in July, and much higher than the European Central Bank's 2% target.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 4.11 points, or 0.88%, closing at 461.84. It was down 0.96% this week.

London's FTSE 100 lost 63 points, or 0.91%, to stand at 6,963, while Germany's DAX 30 was the worst performer of the day after shedding 161 points, or 1.03%, to read 15,490. They were down 0.93% and 0.76%, respectively, for the week.

France's CAC 40 was down 52 points, or 0.79%, to end the day at 6,570 points. It plummeted 1.4% this week.

Italy's Borsa Italiana FTSE MIB 30 declined 254 points, or 0.98%, to close at 25,709. For the week, the index was up 0.08%.

Spain's IBEX 35 was the only gainer of the day by increasing 0.31%, or 27 points, to 8,760. It had a weekly gain of 0.75%.

Asian stock markets

Asian indices closed higher on Friday, except India, but most of them posted weekly losses.

The Asia Dow, which includes blue-chip companies in the region, rose 13 points, or 0.33%, to close at 3,978 points. It fell 1.59% for the week.

Tokyo's Nikkei 225 stock exchange also increased 176 points, or 0.58%, to 30,500. It rose 0.38% this week.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, soared 252 points, or 1.03%, to 24,920 -- the most among Asian indices. For the week, it plummeted 4.9%.

China's Shanghai stock exchange added 6 points, or 0.19%, to reach 3,613 points, while Singapore also rose 6 points, or 0.22%, to 3,071. They dived 2.4% and 0.88%,respectively, this week.

India's Sensex was the only loser of the day by falling 0.21%, or 125 points, to 59,015. It, however, was up 1.3% this week.

US indices

After a weak opening on Friday, US indices extended their losses.

The Dow Jones was down 115 points, or 0.33%, to 34,635 at 12.47 p.m. EDT (1647GMT), while the S&P 500 was down 27, or 0.61%, to 4,446.

The Nasdaq decreased 112 points, or 0.74%, to 15,069.

VIX volatility index, also known as the fear index, was up once again to 19.71 by adding 5.5%.

The dollar index rose 0.23% to 93.15, while the yield on 10-year US Treasury notes increased 3.1% to 1.372%.

Precious metals were down with gold losing 0.06% to $1,752 per ounce, and silver shaving 2% to $22.46.

Oil prices were down as Brent crude was trading at $75.28 per barrel with a 0.5% loss, and West Texas Intermediate was at $72.03 – a 0.7% decline.

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