European stocks close: stocks closed mixed as concerns over the yuan devaluation eased

Stock indices closed mixed as concerns over the yuan devaluation eased. The People's Bank of China (PBoC) has devaluated the yuan for the third day. But the central bank tried to reassure market participants on Thursday, saying there was no basis for further yuan devaluation.

The yuan depreciated 1.9% on Tuesday, 1.6% on Wednesday and 1.1% today. China's central bank set Thursday's daily fixing at 6.4010 per U.S. dollar, down from 6.3306 on Wednesday.

Meanwhile, the economic data from the Eurozone was weak. German final consumer price index rose 0.2% in July, in line with the preliminary estimate, after a 0.1% decline in June.

On a yearly basis, German final consumer price index decreased to 0.2% in July from 0.3% in June, in line with the preliminary estimate. It was the lowest level since February.

The decline was driven by falling energy prices, which dropped 6.2% year-on-year in July.

The French consumer price inflation dropped 0.4% in July, after a 0.1% decrease in June.

On a yearly basis, the consumer price index climbed 0.2% in July, after a 0.3% rise in June.

The European Central Bank's (ECB) its minutes of July meeting on Thursday. According to the minutes, financial developments in China could have a larger than expected adverse impact.

"In particular, financial developments in China could have a larger than expected adverse impact, given this country's prominent role in global trade. This risk could be compounded by negative knock-on effects from interest rate increases in the United States on growth in emerging market economies," the ECB said.

The central bank noted that the economic recovery in the Eurozone remained moderate and gradual.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,568.33 -2.86 -0.04 %

DAX 11,014.63 +90.02 +0.82 %

CAC 40 4,986.85 +61.42 +1.25 %