Stock indices declined as the European Union and the United States imposed new sanctions against Russia. New sanctions target OAO Rosneft, OAO Novatek, OAO Gazprombank, and eight defence firms.

Eurozone's consumer inflation rose 0.5% in June, in line with expectations, after a 0.5% gain in May. The consumer inflation remained below the European Central Bank's 2% target. Inflation in the Eurozone has been below 1% since October 2013.

On a monthly basis, consumer price index climbed 0.1% in June, after a 0.1% decline in May.

Consumer price index excluding food, energy, alcohol, and tobacco costs climbed 0.8% in June, in line with expectations, after a 0.8% rise in May.

Banco Espirito Santo SA shares dropped 7.9% as S&P lowered the lender's rating to B- from B.

Current figures:

Name Price Change Change %

FTSE 100 6,740.3 -44.37 -0.65%

DAX 9,779.7 -79.57 -0.81%

CAC 40 4,327.04 -42.02 -0.96%