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    27.11.2015 17:00 European stocks close: stocks closed lower on a drop in Chinese stock markets

    Stock indices closed lower on a drop in Chinese stock markets. Chinese stock markets slid due to investigations by the Chinese securities regulatory body.

    Meanwhile, the economic data from the Eurozone was mixed. The European Commission released its economic sentiment index for the Eurozone on Friday. The index remained unchanged at 106.1 in November. October's figure was revised up from 105.9. Analysts had expected the index to decline to 105.9.

    The increase was driven by stronger confidence among consumers.

    The industrial confidence index dropped to -3.2 in November from -2.0 in October, missing expectations for a decline to -2.1.

    The final consumer confidence index was up to -5.9 in November from -7.5 in October, beating expectations for a fall to -7.7. October's figure was revised up from -7.6.

    The business climate index decreased to 0.36 in November from 0.44 in October. Analysts had expected the index to rise to 0.45.

    Gfk released its consumer confidence index for the U.K. on Friday. GfK's U.K. consumer confidence index fell to 1 in November from 2 in October. Analysts had expected the index to remain unchanged at 2.

    "Overall, despite the good news agenda of rock-bottom inflation, falling fuel prices and higher wage growth boosting spending power, confidence appears to be depressed by a combination of wider economic, political and social events. However, one area that continues to hold up is our expectation for our personal financial situation for the next 12 months," Joe Staton, Head of Market Dynamics at GfK, said.

    The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Friday. The revised U.K. GDP expanded at 0.5% in the third quarter, in line with the preliminary reading, after a 0.7% rise in the second quarter.

    The growth was driven by a rise in household spending. Household spending rose 0.8% in the third quarter, after a 0.7% increase in the second quarter.

    Exports climbed 0.9% in the third quarter, while imports were up 5.5%.

    Business investment jumped 2.2% in the third quarter.

    The service sector climbed 0.7% in the third quarter.

    On a yearly basis, the revised U.K. GDP rose 2.3% in the third quarter, in line with the preliminary reading, after a 2.4% gain in the second quarter.

    Indexes on the close:

    Name Price Change Change %

    FTSE 100 6,375.15 -17.98 -0.28 %

    DAX 11,293.76 -27.01 -0.24 %

    CAC 40 4,930.14 -15.88 -0.32 %


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