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10.10.2014 16:00

European stocks close: stocks closed lower on concerns over the global growth and on concerns Eurozone could fall into recession

Stock indices closed lower on concerns over the global growth and Eurozone could fall into recession.

The International Monetary Fund cut its forecast for global economic growth for 2014 and 2015 this week. The International Monetary Fund chief Christine Lagarde said yesterday that the likelihood of the Eurozone slipping into recession is 35-40% if nothing will be done.

Several disappointing economic data was released in Germany this week. Four German economic institutes lowered their forecast for Germany's economic growth yesterday.

There is also differences between the European Central Bank (ECB) and Germany. The ECB President Mario Draghi said at the Brookings Institution in Washington yesterday that the central bank is willing to add more stimulus measures if needed. But German Finance Minister Wolfgang Schaeuble yesterday warned against further stimulus measures.

France's industrial production was flat in August, beating forecasts of a 0.2% decline, after a 0.3% increase in July. July's figure was revised up from a 0.2% gain.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,339.97 -91.88 -1.43%

DAX 8,788.81 -216.21 -2.40%

CAC 40 4,073.71 -67.74 -1.64%

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