European stocks close: stocks closed mixed on company news

Stock indices closed mixed on company news. Volkswagen's shares dropped as the company said that the carbon dioxide emission levels of 800 000 cars were incorrectly specified.

Shares of the commodity company Glencore rose as the company said that it was on track to reduce its debt and boost liquidity.

Meanwhile, the economic data from the Eurozone was mixed. Eurostat released its producer price index for the Eurozone on Wednesday. Eurozone's producer price index declined 0.3% in September, beating expectations for a 0.4% drop, after a 0.8% decrease in August.

On a yearly basis, Eurozone's producer price index dropped 3.1% in September, beating expectations for a 3.3% decrease, after a 2.6% fall in August.

Eurozone's producer prices excluding energy fell 0.6% year-on-year in September.

Markit Economics released final services purchasing managers' index (PMI) for the Eurozone on Wednesday. Eurozone's final services purchasing managers' index (PMI) increased to 54.1 in October from 53.7 in September, down from the preliminary reading of 54.2.

The index was driven by rises in new business, backlogs of work and employment.

Eurozone's final composite output index rose to 53.9 in October from 53.6 in September, down from the preliminary reading of 54.0.

"The final PMI data confirm the steady but still somewhat lacklustre economic growth recorded in the euro area at the start of the fourth quarter. The survey suggests that the region's quarterly growth rate remains constrained at around 0.4%," Chief Economist at Markit Chris Williamson said.

Germany's final services purchasing managers' index (PMI) rose to 54.5 in October from 54.1 in September, down from the preliminary reading of 55.2.

France's final services purchasing managers' index (PMI) increased to 52.7 in October from 51.9 in September, up from the preliminary reading of 52.3.

Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. rose to 54.9 in October from 53.3 in September, exceeding expectations for a rise to 54.5.

A reading above 50 indicates expansion in the sector.

The increase was driven by a faster growth in business activity and stronger job creation.

"The survey data point to GDP rising at a quarterly rate of 0.6% at the start of the fourth quarter, up from 0.5% in the third quarter. Such an improvement, together with the revival in hiring signalled by the three surveys, with job creation hitting an eight-month high in October, may coax more policymakers into raising interest rates before the end of the year," the Chief Economist at Markit Chris Williamson said.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,412.88 +29.27 +0.46 %

DAX 10,845.24 -105.91 -0.97 %

CAC 40 4,948.29 +12.11 +0.25 %