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- European stocks close: stocks closed lower on disappointing corporate earnings
European stocks close: stocks closed lower on disappointing corporate earnings
Stock indices closed lower on disappointing corporate earnings.
Germany's Bundesbank said in its monthly bulletin that Germany's economy barely grew at in the third quarter and the outlook for the fourth quarter is cautious. Bundesbank noted that the economy in Germany was unlikely to enter recession.
German producer price index was flat in September, missing expectations for a 0.1% gain, after a 0.1% decline in August.
On a yearly basis, German producer price index fell 1.0% in September, in line with expectations, after a 0.8% drop in August.
Eurozone's current account surplus declined to 18.9 billion euros in August from a surplus of 21.6 billion euros in July, missing expectations for a current account surplus of 21.3 billion euros. July's figure was revised up from a surplus of EUR18.7 billion.
Royal Philips NV shares decreased 3.4% after missing third-quarter sales and profit analysts' estimates.
SAP SE shares fell 5.7% after the company lowered its full-year earnings forecast.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,267.07 -43.22 -0.68%
DAX 8,717.76 -132.51 -1.50%
CAC 40 3,991.24 -41.94 -1.04%
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