Ovunc Kutlu
28 October 2021•Update: 28 October 2021
ANKARA
European stocks closed mixed Thursday after the European Central Bank's (ECB) meeting.
The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was flat, adding 1.12 points, or 0.24%, to close at 475.16.
London's FTSE 100 was down 3.8 points, or 0.05%, closing at 7,249. Germany's DAX 30 lost 9, or 0.06%, to 15,696.
France's CAC 40, on the other hand, was the day’s best performer, adding 50 points, or 0.75%, to 6,804.
Italy's FTSE MIB 30 rose 84 points, or 0.31%, to end the day at 26,890. Spain's IBEX 35 increased 53 points, or 0.6%, to close at 9,025.
The ECB kept interest rates unchanged despite inflation in Europe rising at its fastest pace since 2008. It said that its net purchases will continue at a monthly pace of €20 billion ($23.2 billion).
The central bank also said it plans to continue net asset purchases under the €1.85 trillion ($2.14 trillion) Pandemic Emergency Purchase Program until at least the end of March 2022.
ECB President Christine Lagarde said at a news conference that the euro area continues to recover strongly although momentum has moderated to some extent.
"Inflation is rising primarily because of the surge in energy prices, but also as the recovery in demand is outpacing constrained supply," she said.
"The grip of the pandemic on the economy has visibly weakened,” she said. “Higher energy prices may reduce purchasing power in the months to come.”
"These constraints are clouding the outlook of the coming quarters," she added.
