European stocks close higher, except UK, with easing inflation

ISTANBUL

European stocks closed higher Thursday, except for the UK's exchange, as the annual inflation rate is slowing down.

The annual inflation in the euro area came in at 8.6% in January, down from a 9.2% year-on-year gain in December, the Eurostat announced earlier.

Amid the easing in the inflation rate, investors are hoping that the European Central Bank would also slow down its interest rate increases this year.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, rose 0.28 points, or 0.06%, to finish at 462.50.

Germany's DAX 30 rose 75 points, or 0.49%, to close at 15,475. France's CAC 40 added 18 points, or 0.25%, to reach 7,317.

Italy's FTSE MIB was the best performer of the day, jumping 176 points, or 0.65%, to 27,277.

It was followed by Spain's IBEX 35, which added almost 59 points, or 0.64%, to finish the day at 9,231.

The UK's FTSE 100, on the other hand, decreased 22 points, or 0.29%, to end the session at 7,907.