Stock indices closed lower as oil prices dropped again. Oil prices traded lower on concerns over the slowdown in the global economy and on high U.S. crude oil inventories.

European Central Bank Governing Council member Ewald Nowotny said on Thursday that inflation in the Eurozone could turn into negative territory in the first half of 2016 but prices are expected to climb in the second half. He noted that there was no deflationary risk in the Eurozone.

The Royal Institution of Chartered Surveyors' (RICS) released its house price data for the U.K. on Thursday. The monthly house price balance remained unchanged at +49% in January. December's figure was revised down from +50%.

RICS Chief Economist, Simon Rubinsohn, said that the near-term pressure on house prices was intensifying despite a higher level of supply.

Indexes on the close:

Name Price Change Change %

FTSE 100 5,536.97 -135.33 -2.39 %

DAX 8,752.87 -264.42 -2.93 %

CAC 40 3,896.71 -164.49 -4.05 %