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    24.11.2015 17:03 European stocks close: stocks closed lower on concerns over the situation in the Middle East

    Stock indices closed lower on concerns over the situation in the Middle East. Turkey reported today that it shot down the Russian jet near the Syria's border. The jet should have violated Turkish airspace.

    Russia's defence ministry said the jet did not violate Turkish airspace. Russian President Vladimir Putin said that Turkey's action was a "stab in the back by the terrorists' accomplices" and that this action would have serious consequences.

    Meanwhile, the economic data from the Eurozone was positive. German Ifo Institute released its business confidence figures for Germany on Tuesday. German business confidence index rises to 109.0 in November from 108.2 in October. Analysts had expected to remain unchanged at 108.2.

    "The German economy remains unaffected by growing uncertainty worldwide. Not even the Paris attacks had a negative impact on survey data," Ifo President Hans-Werner Sinn said.

    The Ifo current conditions index increased to 113.4 from 112.7. October's figure was revised up from 112.6. Analysts had expected the index to fell to 112.4.

    The Ifo expectations index rose to 104.7 from 103.9. October's figure was revised up from 103.8. Analysts had expected the index to decrease to 104.0.

    Destatis released its final gross domestic product (GDP) growth for Germany on Tuesday. Germany's final GDP gained by 0.3% in the third quarter, in line with the preliminary reading, after a 0.4% increase in the second quarter.

    The increase was driven by domestic final consumption expenditure. Household consumption expenditure rose by 0.6% in the third quarter, while government spending increased by 1.3%.

    Exports of goods and services were up 0.2% in third quarter, while imports climbed 1.1%.

    On a yearly basis, Germany's final GDP rose to 1.8% in the third quarter from 1.6% in the second quarter, in line with the preliminary reading.

    Indexes on the close:

    Name Price Change Change %

    FTSE 100 6,277.23 -28.26 -0.45 %

    DAX 10,933.99 -158.32 -1.43 %

    CAC 40 4,820.28 -68.84 -1.41 %


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