European stocks close: stocks closed mixed on corporate earnings

Stock indices closed mixed on corporate earnings. The German stock index DAX was supported by the better-than-expected German Ifo business climate data. German Ifo Institute released its business confidence figures for Germany on Monday. German business confidence index fell to 108.2 in October from 108.5 in September, beating expectations for a decline to 107.8.

"Companies were slightly less satisfied with their current business situation than in September. Optimism with a view to future business developments nevertheless continued to grow. The German economy is proving remarkably resilient in view of this autumn's multiple challenges," Ifo President Hans-Werner Sinn said.

He added that the Volkswagen scandal had no impact on the German automotive industry.

The Ifo current conditions index declined to 112.6 from 114.0. Analysts had expected the index to fell to 113.5.

The Ifo expectations index rose to 103.8 from 103.3. Analysts had expected the index to decrease to 102.4.

The German Bundesbank released its monthly economic report on Monday. The central bank said that the underlying trend in the German economy remains strong, but it lost some momentum.

"The upward momentum of overall economic activity in Germany continued in the third quarter," the central bank said.

The Confederation of British Industry (CBI) released its industrial order books balance on Monday. The CBI industrial order books balance dropped to -18% in October from -7% in September.

Ona quarterly basis, the CBI industrial order books balance declined to -8% in the third quarter from +9% in the second quarter. It was the lowest reading since October 2012.

"Manufacturers have been struggling with weak export demand for several months, because of the strength of the pound and subdued global growth. But now they're also facing pressure back home as domestic demand is easing," the CBI director of economics Rain Newton-Smith said.

The British Bankers' Association (BBA) released the number of mortgage approvals in the U.K. on Monday. The number of mortgage approvals decreased to 44,489 in September from 46,567 in August. August's figure was revised down from 46,743.

"Borrowing figures in the mortgage market remain strong as customers take advantage of record low interest rates. In particular, remortgaging remains high as savvy customers secure attractive deals ahead of a possible rate rise," the chief economist at the BBA, Richard Woolhouse, said.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,417.02 -27.06 -0.42 %

DAX 10,801.34 +6.80 +0.06 %

CAC 40 4,897.13 -26.51 -0.54 %