(index / closing price / change items /% change)

Nikkei 225 16,862.47 +448.71 +2.73%

Hang Seng 23,845.66 -70.31 -0.29%

Shanghai Composite 2,430.74 +0.71 +0.03%

FTSE 100 6,453.97 -34.00 -0.52%

CAC 40 4,130.19 -63.84 -1.52%

Xetra DAX 9,166.47 -85.23 -0.92%

S&P 500 2,012.1 -5.71 -0.28%

NASDAQ Composite 4,623.64 -15.27 -0.33%

Dow Jones 17,383.84 +17.60 +0.10%

Stock indices closed lower as the European Commission (EC) lowered its growth and inflation forecast for the Eurozone. The EC cut its forecast for Eurozone's economic growth to 0.8% in 2014, down from 1.2%. The economic growth in the Eurozone is lowered to 1.1% in 2015, down from 1.7% previously.

The EC expects inflation in the Eurozone to remain below the European Central Bank's 2% target until at least 2016.

The EC lowered its forecasts due to a slowdown of the European economy and geopolitical crises.

Shares of oil companies declined due to falling oil prices.

Hugo Boss AG shares dropped 5.3% after lowering its 2014 sales forecast.

Securitas AB shares rose 9.1% after reporting better-than-estimated third-quarter net income.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,453.97 -34.00 -0.52%

DAX 9,166.47 -85.23 -0.92%

CAC 40 4,130.19 -63.84 -1.52%

U.S. stock-index futures dropped as energy companies slumped as oil reached a three-year low and forecasts from Sprint Corp. to Priceline Group Inc. disappointed investors.

Global markets:

Nikkei 16,862.47 +448.71 +2.73%

Hang Seng 23,845.66 -70.31 -0.29%

Shanghai Composite 2,430.74 +0.71 +0.03%

FTSE 6,478.27 -9.70 -0.15%

CAC 4,168.51 -25.52 -0.61%

DAX 9,235.36 -16.34 -0.18%

Crude oil $76.96 (-2.28%)

Gold $1168.40 (-0.10%)

Upgrades:

Chevron (CVX) upgraded to Outperform from Underperform at Credit Agricole

Downgrades:

Other:

(company / ticker / price / change, % / volume)

At the moment the FTSE 100 is down -0.16% trading at 6,477.49, the DAX -0.01% at 9,250.34 points and the CAC 40 -0.26% at 4,183.08 points making the DAX the biggest loser trading in the first hour at +0.40% after the European Commission cut its growth forecast for the euro zone. Gross domestic product will rise by 0.8 percent this year and 1.1 percent in 2015, down from projections for 1.2% and 1.7% in May, the European Commission announced today. Lower projections for Germany and inflation in the euro area will be even weaker than the ECB predicts.

European stock indices rose at the start. Germany's DAX 30 climbed 0.40% to 9,288.77 points, UK's FTSE 100 index was up 0.09% to 6,493.56 points, while France's CAC 40 gained 0.08% to 4,197.40 although a slightly lower S&P 500 and DOW Jones. Despite weaker Asian markets the Nikkei climbed over 17,000 points for the first time since 2007 due to Bank of Japans market stimulus. Market participants are awaiting the Eurozone Producer Price Index, the ongoing reporting season and during the night the final results of the US midterm elections.