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28.08.2015 16:00 European stocks close: stocks closed mixed in the cautious trade

Stock indices closed mixed in the cautious trade. Concerns over a slowdown in the Chinese economy eased and the Chinese stock market stabilised. Yesterday's U.S. GDP data also supported markets. The U.S. revised GDP climbed 3.7% in the second quarter, exceeding expectations for a 3.2% increase, up from the preliminary estimate of a 2.3% rise.

Meanwhile, the economic data from the Eurozone was mostly positive. The economic sentiment index increased to 104.2 in August from 104.0 in July, beating expectations for a decline to 103.8. It was the highest level since June 2011.

The increase was driven by improvements in the construction, services and retail trade sectors.

The industrial confidence index decreased to -3.7 in August.

The final consumer confidence index was up to -6.9 in August from -7.2 in July, in line with expectations. July's figure was revised down from -7.1.

The business climate index was down to 0.21 in August from 0.41 in July, missing forecasts of a decline to 0.34.

German preliminary consumer price index was flat in August, beating expectations for a 0.1% decline, after a 0.2% rise in July.

On a yearly basis, German preliminary consumer price index remained unchanged at 0.2% in August, in line with expectations.

Higher services prices offset lower goods prices, which were driven by a decline in energy prices.

The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Friday. The revised U.K. GDP expanded at 0.7% in the second quarter, in line with expectations and the preliminary reading, after a 0.4% rise in the first quarter.

The growth was driven by a rise in exports and business investment. Exports climbed 3.9% in the second quarter, while imports were up 0.6%.

Business investment jumped 2.9% in the second quarter.

Economists have said the increase trade might be temporary due to a stronger pound, which makes British products more expensive abroad.

On a yearly basis, the revised U.K. GDP rose 2.6% in the second quarter, in line with expectations and the preliminary reading, after a 2.9% gain in the first quarter.

The service sector climbed 0.7% in the second quarter.

Household spending rose 0.7% in the second quarter, after a 0.9% increase in the first quarter.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,247.94 55.91 0.90 %

DAX 10,298.53 -17.09 -0.17 %

CAC 40 4,675.13 16.95 0.36 %

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