European stocks close: stocks closed lower as shares of miners and automakers dropped due to a decline in commodity prices

Stock indices closed lower as shares of miners and automakers dropped due to a decline in commodity prices.

The European Central Bank (ECB) Chief Economist Peter Praet said on Monday that the central bank will expand its asset-buying programme to defend its inflation objective if needed.

Meanwhile, the economic data from the Eurozone was mixed. The European Commission released its preliminary consumer confidence figures for the Eurozone on Tuesday. Eurozone's preliminary consumer confidence index fell to -7.1 in September from -6.9 in August, missing expectations for a decline to -7.0.

European Union's consumer confidence index declined by 0.8 points to -5.5 in September.

Destatis released its real wages growth data for Germany on Tuesday. Real wages in Germany rose by 2.7% year-on-year in the second quarter, after a 2.5% growth in the first quarter. It was the biggest increase since the series began in 2008.

Nominal earnings climbed 3.2% year-on-year in the second quarter. In the same period, German consumer price index increased 0.5%.

The Office for National Statistics released public sector net borrowing for the U.K. on Tuesday. The public sector net borrowing in the U.K. rose to £11.31 billion in August from £0.07 billion in July. July's figure was revised up from -£2.07 billion. Analysts had expected an increase to £8.65 billion.

Public sector net borrowing excluding public sector banks totalled £12.1 billion in August, up by £1.4 billion from last year. It was the highest level for August since 2012.

Total debt was £1,506 billion in August, up £68.9 billion from last year. It was equal to 80.6% of GDP.

The increase in debt was driven by a decline in income tax paid.

The Confederation of British Industry (CBI) released its industrial order books balance on Tuesday. The CBI industrial order books balance dropped to -7% in September from -1% in August, missing expectations for a rise to 0%.

The decrease was partly driven by a fall in export order book balance. The export order book balance plunged to -24% in September from -8% in August.

The balance for output volumes for the next three months was 0% in September, down from +14% in August. It was the lowest level since October 2013.

Indexes on the close:

Name Price Change Change %

FTSE 100 5,935.84 -172.87 -2.83 %

DAX 9,570.66 -377.85 -3.80 %

CAC 40 4,428.51 -156.99 -3.42 %