Market news

29 September 2015

European stocks close: stocks closed lower after the mixed economic data from the Eurozone

Stock indices closed lower after the mixed economic data from the Eurozone. Destatis released its consumer price data for Germany on Tuesday. German preliminary consumer price index fell 0.2% in September, missing expectations for a 0.1% decline, after a flat reading in August.

On a yearly basis, German preliminary consumer price index decreased to 0.0% in September from 0.2% in August, missing expectations for a fall to 0.1%.

The decline was driven by a drop in goods prices, which decreased 1.3% year-on-year in September. Goods prices were driven by a decline in energy prices.

Services prices rose 1.1% year-on-year in September.

The European Commission released its economic sentiment index for the Eurozone on Tuesday. The index increased to 105.6 in September from 104.1 in August. It was the highest level since April 2011.

August's figure was revised down from 104.2.

Analysts had expected the index to remain unchanged at 104.1.

The increase was driven by improvements in the industry, services and retail trade sectors.

The industrial confidence index increased to -2.2 in September from -3.7 in August, beating expectations for a decline to -3.8.

The final consumer confidence index was down to -7.1 in September from -6.9 in August, in line with expectations.

The business climate index climbed to 0.34 in September from 0.2 in August. Analysts had expected the index to remain unchanged at 0.2.

The Bank of England (BoE) released its number of mortgages approvals for the U.K. on Tuesday. The number of mortgages approvals in the U.K. was up to 71,030 in August from 69,010 in July, exceeding expectations for an increase to 70,000. It was the highest reading since May 2008.

Consumer credit in the U.K. rose by £860 million in August, after a rise by £1.163 billion in July.

Net lending to individuals in the U.K. increased by £4.3 billion in August, exceeding expectations for a £4.1 billion, after a £4.0 billion gain in July. July's figure was revised up from a £3.9 billion increase.

Indexes on the close:

Name Price Change Change %

FTSE 100 5,922.73 -36.13 -0.61%

DAX 9,450.4 -33.15 -0.35%

CAC 40 4,343.73 -13.32 -0.31%

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