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- European stocks close: stocks traded lower due to concerns over escalating violence in Iraq
European stocks close: stocks traded lower due to concerns over escalating violence in Iraq
Stock indices traded lower due to concerns over escalating violence in Iraq. Investors monitor closely the situation in Iraq because increasing oil prices could have a negative impact on a global economy.
Concerns over violence in Ukraine also weighed on stock markets.
Market research group Gfk released its consumer climate index for Germany. The consumer climate index is expected to increase to 8.9 in July from 8.6 in June. June's figure was revised up from 8.5. Analysts had expected the index to rise to 8.6.
The Confederation of Business Industry released retail sales for the U.K. The CBI retail sales volume balance dropped to +4 in June from +16 in May. That was the lowest level since November 2013. Analysts had expected an increase to +25.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,733.62 -53.45 -0.79%
DAX 9,867.75 -70.33 -0.71%
CAC 40 4,460.6 -57.74 -1.28%
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