European stocks close: stocks closed lower on falling oil prices and on the Chinese manufacturing PMI data

Stock closed slightly lower on falling oil prices and on the Chinese manufacturing PMI data. Chinese manufacturing PMI remained unchanged at 50.1 in May, according to the Chinese government. Analysts had expected the index to decrease to 50.0. The production sub-index increased to 52.3 in May from 52.2 in April, the new orders sub-index was down to 50.7 from 51, and the new exports sub-index fell to 50 from 50.1, while the employment sub-index increased to 48.2 from 47.8. The services PMI decreased to 53.1 in May from 53.5 in April.

Market participants also eyed the economic data from the Eurozone. Markit Economics released its final manufacturing purchasing managers' index (PMI) for the Eurozone on Wednesday. Eurozone's final manufacturing purchasing managers' index (PMI) declined to 51.5 in May from 51.7 in April, in line with the preliminary reading.

The decline was driven by a slower growth in new business from both domestic and export markets.

"Manufacturing in the euro area remained stuck in a state of near-stagnation in May, failing to break out of the slow growth phase that has plagued producers since February," Chris Williamson, Chief Economist at Markit said.

"The disappointing performance of manufacturing adds to suspicions that the pace of Eurozone economic growth in the second quarter has cooled after a surprisingly brisk start to the year based on the latest estimate of GDP," he added.

Germany's final Markit/BME manufacturing PMI rose to 52.1 in May from 51.8 in April, down from the preliminary reading of 52.4.

France's final manufacturing PMI increased to 48.4 in May from 48.0 in April, up from the preliminary reading of 48.3.

Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Wednesday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. rose to 50.1 in May from 49.4 in April, exceeding expectations for a rise to 49.6. April's figure was revised up from 49.2. The increase was driven by rises in new orders, input costs and average selling prices.

The Bank of England (BoE) released its number of mortgages approvals for the U.K. on Wednesday. The number of mortgages approvals in the U.K. was down to 66,250 in April from 70,305 in March, missing expectations for a decrease to 67,900. March's figure was revised down from 71,357.

Consumer credit in the U.K. rose by £1.287 billion in April, missing expectations for an £1.600 billion increase, after a £1.822 billion gain in March. March's figure was revised down from £1.833 billion.

Net lending to individuals in the U.K. increased by £1.6 billion in April, missing expectations for an £5.3 billion rise, after a £9.2 billion gain in March. March's figure was revised down from a £9.3 billion rise.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,191.93 -38.86 -0.62 %

DAX 10,204.44 -58.30 -0.57 %

CAC 40 4,475.39 -30.23 -0.67 %