European stocks declined on Wednesday, impacted by a drop in healthcare stocks and concerns over interest rate outlooks in the Eurozone. The Stoxx 600 index closed down by 0.2%.
Most financial markets in Europe retreated; however, the Spanish Ibex index closed up by 0.5%, reaching its highest level in six weeks.
Inditex shares surged by 5.7% to their highest level in nearly six years after the retail company reported a 54% jump in quarterly profits.
The European retail sector index led sector gains with an increase of 2%.
In this context, European Central Bank board member Klaas Knot confirmed that "the bank will need to raise interest rates by 25 basis points at least twice in June and July and should be prepared to raise them again if inflation remains high."
