European Stocks Close Mostly Higher Despite Record Inflation

Spain’s IBEX 35 performs best, as it rises 0.96%

European stock exchanges closed mostly higher on Friday despite inflation climbing to a new record high.
Annual inflation rate in euro area is forecast to come in at a new record of 8.6% in June, according to Eurostat's flash estimate released earlier.
Inflation in euro area rose 8.1% in May, compared to the same month of last year, and posted its highest annual increase since 1997.
The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down slightly by 0.07 point, or 0.02%, to finish the day at 407.13.
The UK's FTSE was almost unchanged by falling only 0.63 point, or 0.01%, to end the day at 7,168.
Spain's IBEX 35 was the best performer of the day, rising 77 points, or 0.96%, to 8,176.
Germany's DAX 30, on the other hand, rose 29 points, or 0.23%, to 12,813. France's CAC 40 added 8 points, or 0.14%, to 5,931.
Italy's FTSE MIB increased 60 points, or 0.29%, to close at 21,354. -