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    18.01.2016 17:00 European stocks close: stocks closed lower on a drop in oil prices

    Stock indices traded lower on a drop in oil prices. Concerns over the global oil oversupply weigh on oil prices.

    International sanctions on Iran were lifted over the weekend after the International Atomic Energy Agency announced that Tehran had fulfilled its commitment.

    Iran said on Sunday that it plans to raise its exports by 500,000 barrels per day.

    Iran is a member of the Organization of the Petroleum Exporting Countries (OPEC), and is the fifth biggest OPEC oil producer.

    U.S. stock markets are closed for a public holiday on Monday.

    Indexes on the close:

    Name Price Change Change %

    FTSE 100 5,779.92 -24.18 -0.42 %

    DAX 9,521.85 -23.42 -0.25 %

    CAC 40 4,189.57 -20.59 -0.49 %

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