European shares end Wednesday’s session with losses except in Spain
Date
10/24/2024 5:45:45 AM
(MENAFN) European stock markets closed on a negative note on Wednesday, with the exception of Spain, which managed to post gains. The STOXX Europe 600, a comprehensive index that encompasses approximately 90 percent of the market capitalization across 17 European countries, experienced a decline, falling by 1.56 points or 0.3 percent. This brought the index to a midweek close of 518.84 points, reflecting the overall bearish sentiment that characterized the trading session.
In the United Kingdom, the FTSE 100 index faced notable losses, dropping nearly 48 points or 0.58 percent to finish at 8,258 points. This decline mirrored the challenges faced by other major indices in the region. Similarly, Germany's DAX 30 also experienced a decrease, shedding 44 points or 0.23 percent, ultimately closing at 19,377 points. These losses highlight the widespread struggles within the European market on that particular day.
France's CAC 40 was the standout laggard, suffering the most significant decline among major indices. It plummeted by 37 points, which is equivalent to a 0.5 percent drop, closing the session at 7,497 points. Meanwhile, Italy's FTSE MIB followed suit with a more modest decline, falling by 36 points or 0.1 percent, bringing its final tally to 34,697 points. These figures illustrate the overall downturn experienced by most European markets on Wednesday.
In contrast, Spain's IBEX 35 index provided a ray of hope amid the broader market decline, as it rose by 32 points, or 0.27 percent, to conclude at 11,865 points. This positive performance by the Spanish index stands in stark contrast to the negative trends observed in other major European markets, indicating that certain sectors or stocks within Spain may be exhibiting resilience despite the prevailing market conditions affecting the continent.
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