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Stock indices closed lower as weak German economic sentiment weighed on markets. The ZEW Centre for Economic Research released its economic sentiment index for Germany and the Eurozone. The economic sentiment index for Germany plunged to 8.6 in August from 27.1 in July. That was the lowest level since December 2012. Analysts had expected a decline to 18.2.
The drop was driven by geopolitical tensions.
Eurozone's ZEW economic sentiment index fell to 23.7 in August from 48.1 in July. Analysts had expected a decrease to 41.3.
Tensions over Ukraine also weighed on markets. Russia sent 280 trucks carrying humanitarian aid to Southeast Ukraine.
Henkel AG shares dropped 5.2% as the company reported that earnings growth will slow in the second half due to tensions in Ukraine and the Middle East.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,632.42 -0.40 0.0%
DAX 9,069.47 -111.27 -1.2 %
CAC 40 4,162.16 -35.54 -0.8 %
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