European stocks close: stocks closed lower on concerns over a slowdown in the Chinese economy

Stock indices closed lower on concerns over a slowdown in the Chinese economy. The Chinese stock market declined again. The Financial Times reported that the Chinese government ended its large-scale share purchase programme.

Meanwhile, the economic data from the Eurozone was positive. The preliminary consumer price inflation in the Eurozone remained unchanged at an annual rate of 0.2% in August, beating expectations for a decline to 0.1%.

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco remained unchanged at an annual rate of 1.0% in August.

Food, alcohol and tobacco prices were up 1.2% in August, non-energy industrial goods prices gained 0.6%, and services prices climbed 1.2%, while energy prices dropped 7.1%.

Destatis released its retail sales for Germany on Monday. German adjusted retail sales rose 1.4% in July, beating forecasts of a 1.0% gain, after a 1.0% drop in June. It was the biggest rise since October 2014.

June's figure was revised up from a 2.3% decline.

On a yearly basis, German retail sales jumped 3.3% in July, exceeding expectations for a 1.9% gain, after a 5.2% rise in June. June's figure was revised up from a 5.1% increase.

Sales of non-food products increased at an annual rate of 3.1% in July, while sales of food products climbed by 2.6%.

Indexes on the close:

Name Price Change Change %

FTSE 100 closed

DAX 10,259.46 -39.07 -0.38 %

CAC 40 4,652.95 -22.18 -0.47 %