European stocks are down moderately, ending a three-day rally, due to concerns over the outlook for economic growth and expectations of the Fed speech.

The data published by research institute IFO, showed that the index of business climate in Germany unexpectedly fell in August to 106.2 points from 108.3 points in July. Analysts had expected the index rising to 108.5 points. In addition, the current conditions index fell to 112.8 points from 114.8 points in July, while economists had forecast an improvement to 114.9. The expectations index fell to 100.1 points from 102.1 points, which was lower than expected level of 102.5. Yesterday the Germany's GDP in the 2nd quarter increased by 0.4% compared to the previous 3 months. In annual terms, the economy has added 3.1%.

However, today, the Statistical Office Insee reported that the index of manufacturing sentiment in France fell in August to 101 from 103 in July. Economists had forecast that the index would remain unchanged. A similar low value was recorded for the last time in June 2015. Business managers in the industrial sector were less optimistic about the general prospects of production than in July - the corresponding indicator fell to 2 points from a month earlier.

The composite index of Europe's largest enterprises Stoxx 600 fell 0.7 percent.

Shares of mining companies shows the greatest decline among the 19 industry groups. Shares of Glencore Plc and Anglo American fell 4 percent and 1.5 percent respectively.

Shares of energy companies also in negative territory, as oil traded near a week low. Total SA Quotes decreased by 0.3 percent.

Price of Playtech Plc shares rose 3.4 percent after the supplier of gaming software reported an increase in revenues in the 1st half of the year and announced a special dividend.

Capitalization of Jimmy Choo Plc jumped 5.3 The company noted that it is still optimistic about the prospects for this year.

CRH Plc shares rose by 2.6 per cent, as the Irish construction company recorded higher-than-expected figures for profits and sales in the 1st half of the year.

At the moment:

FTSE 100 6813.77 -22.01 -0.32%

DAX -100.64 10522.33 -0.95%

CAC 40 4401.39 -34.08 -0.77%