European Markets Close Lower As Unemployment Remains High

European stock markets closed lower Thursday as unemployment in the region remains high.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 5.42 points, or 1.15%, to close at 465.44.

London's FTSE 100 declined 39 points, or 0.55%, to end the day at 7,129.

Germany's DAX 30 lost 209, or 1.35%, to 15,263 points, while France's CAC 40 was off 86 points, or 1.25%, to 6,795.

Italy's FTSE MIB 30 plummeted 366 points, or 1.39%, to end the day at 26,005.

Spain's IBEX 35 was the worst performer of the day -- shedding 151 points, or 1.8%, to close at 8,300.

The euro area unemployment rate stood at 7.3% in October, down slightly from 7.4% in the previous month, according to the statistical office of the EU.

The EU unemployment rate was 6.7% in October, unchanged from the previous month, according to Eurostat. -