European stocks close: stocks closed lower as bank shares declined

Stock indices closed lower as bank shares declined. Global regulators fined UBS AG, HSBC Holdings Plc, Royal Bank of Scotland, JPMorgan and Citigroup Inc. $3.4 billion for foreign-exchange manipulation.

Industrial production in the Eurozone rose 0.6% in September, in line with expectations, after a 1.4% drop in August. August's figure was revised up from a 1.8 fall.

On a yearly basis, Eurozone's industrial production increased 0.6% in September, beating expectations for a 0.4% decline, after 0.5% fall in August. August's figure was revised up from a 1.9 drop.

The Bank of England (BoE) lowered its economic growth and inflation forecasts.

The BoE cut its forecasts for economic growth in 2015 to 2.9% from a previous 3.1% gain.

The BoE Governor Mark Carney warned that inflation could fall below 1% in the next six months due to lower commodity prices and a slowdown of global growth. The central bank expects inflation to achieve its 2% target in three years.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,611.04 -16.36 -0.25 %

DAX 9,210.96 -158.07 -1.69 %

CAC 40 4,179.88 -64.22 -1.51 %