Stock indices closed lower, showed biggest weekly decline in 3 years. The decline was driven by a fall of shares in oil and oil services firms that followed crude oil prices.

Mixed Chinese economic data also weighed on markets. China's industrial production increased 7.2% on year in November, missing expectations for a 7.5% rise, down from a 7.7% gain in October.

Fixed asset investment in China rose 15.8% in November, in line with expectations, down from a 15.8% increase in October.

Retail sales in China climbed 11.7% on year in November, exceeding expectations for a 11.5% increase, after a 11.5% gain in October.

These figures adding to concerns about a slowdown of Chinese economy.

Industrial production in the Eurozone rose 0.1% in October, missing expectations for a 0.2% gain, after a 0.5% rise in September. September's figure was revised down from a 0.6 increase.

On a yearly basis, Eurozone's industrial production increased 0.7% in October, beating expectations for a 0.6% rise.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,300.63 -161.07 -2.49%

DAX 9,594.73 -267.80 -2.72%

CAC 40 4,108.93 -116.93 -2.77%

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

Upgrades:

Downgrades:

Other:

Hewlett-Packard (HPQ) reinstated with a Buy at BofA/Merrill; tgt $47

Nike (NKE) target raised to $110 from $100 at Stifel

Microsoft (MSFT) initiated at Overweight at Piper Jaffray, target $54

Microsoft (MSFT) reiterated at Outperform at FBR Capital, target raised from $53 to $57

European indices are trading lower in today's session. Lower oil prices and the political turmoil in Greece weighed on the indices. Energy stocks were among the biggest losers. Weaker Industrial Output in China put further pressure on the markets. Eurozone's Employment Change was in line with expectations at +0.2%. Industrial Production on a monthly basis declined in October with a reading of +0.1%, analyst predicted an increase of +0.2%. On a yearly basis Industrial Production beat forecast by +0.1% showing an increase of +0.7%. The FTSE 100 index lost -1.50% quoted at 6,364.95 points. France's CAC 40 declined -1.72% trading at 4,153.27 and Germany's DAX 30 lost -1.35 at 9,729.36 points. Markets await data on the U.S. PPI and the Reuters/Michigan Consumer Sentiment Index due at 13:30 GMT and 14:55 GMT.

European indices declined with mining shares and the financial sector posting the biggest losses. Lower oil prices after the OPEC report that demand will drop in 2015 and the political turmoil in Greece weighed on the indices. Weaker Industrial Output in China put further pressure on the markets. The FTSE 100 index is currently trading -1.27% quoted at 6,379.71 points, Germany's DAX 30 lost -1.37% trading at 9,727.80. France's CAC 40 declined by -1.33%, currently trading at 4,169.84 points.

Markets await Eurozone's Employment Change and industrial Production data published at 10:00 GMT and later in the session U.S. PPI and the Reuters/Michigan Consumer Sentiment Index due at 13:30 GMT and 14:55 GMT.

U.S. markets closed higher on Thursday supported by good U.S. data on Retail Sales and unemployment. Growth in the world's largest economy seems sustainable and boosts investors' confidence The DOW JONES added +0.36% closing at 17,596.34 points, the S&P 500 gained +0.45%, with a final quote of 2,035.33 points. Falling oil prices further weighed down energy shares.

Hong Kong's Hang Seng is trading -0.16% at 23,275.96. China's Shanghai Composite closed at 2,939.47 points, a gain of +0.47%. Chinese Industrial Production further slowed, reading +7.2% compared to +7.7% in October and below a forecast of +7.5%. Fixed Asset Investment was in line with expectations at 15.8%. Retail Sales beat expectations by +0.2% at 11.7%.

Japan's Nikkei gained +0.66% closing at 17,371.58. Exporter Shares were supported by the solid U.S. Retail Sales data and a weakening yen. Markets were also supported by polls showing a clear victory for Prime Minister Abe's Party at the upcoming elections.