European Markets Finished Mostly Lower On Weak China Data

(RTTNews) - The majority of the European markets ended Monday's session in the red. Disappointing economic data from China over the weekend brought concerns about its slowdown back to the forefront. Investors were also hesitant to take positions ahead of the Federal Reserve announcement on Thursday.

The Federal Reserve will conclude its 2-day monetary policy meeting on Thursday and analysts remain split regarding whether the central bank will raise interest rates. While upbeat economic data points to the first rate hike in nearly a decade, the recent market volatility and concerns about developing economies may keep the Fed on hold.

China's industrial production increased at a slower-than-expected pace in August, while retail sales growth exceeded expectations, figures from the National Bureau of Statistics showed Monday.

Industrial production climbed 6.1 percent year-over-year in August, slightly faster than previous month's 6.0 percent rise. Economists had expected a 6.3 percent growth for the month.

Retail sales growth improved to 10.8 percent annually in August from 10.5 percent in July. The expected rate of increase was 10.6 percent.

Greece is also back in the news today. Polls released over the weekend show that the race between Alexis Tsipras's Syriza party and conservative Vangelis Meimarakis has narrowed to a virtual tie. Debates will take place in the country later today.

The Euro Stoxx 50 index of eurozone bluechip stocks decreased by 0.39 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.21 percent.

The DAX of Germany climbed by 0.08 percent, but the CAC 40 of France fell by 0.67 percent. The FTSE of the U.K. declined by 0.54 percent and the SMI of Switzerland finished lower by 0.98 percent.

In Frankfurt, RWE dropped by 1.82 percent, but E.ON rose by 0.63 percent.

Deutsche Bank increased by 0.86 percent and Commerzbank added 0.30 percent.

In Paris, Alcatel Lucent gained 2.04 percent. Finland-based Nokia has obtained clearance from the Committee on Foreign Investment in the United States for its proposed acquisition of Alcatel-Lucent. Nokia climbed by 1.99 percent in Helsinki.

Sanofi lost 0.44 percent, after its LixiLan-L Phase III clinical trial met its primary endpoint in patients with type 2 diabetes treated with insulin glargine with or without metformin.

Airbus fell by 1.91 percent. The company formally inaugurated its new Mobile, Alabama-based U.S. Manufacturing Facility today.

Societe Television Francaise surged by 6.15 percent, after the French government has decided against allowing evening advertising on state-owned television.

In London, ARM Holdings gained 1.50 percent. The stock climbed on the news that its customer, U.S. tech giant Apple, announced that preorders for its new iPhones are on pace to exceed last year's 10 million unit first-weekend record.

BHP Billiton rose by 1.04 percent, after Jefferies upgraded its rating on the stock to "Buy" from "Hold."

Antofagasta dropped by 2.47 percent, after Jefferies downgraded it to "Hold" from "Buy."

Eurozone industrial production rose for the first time in three months and exceeded economists' expectations, suggesting that a positive contribution to growth is likely in the third quarter.

Industrial production rose 0.6 percent month-on-month following a 0.3 percent slump in June, which was revised from a 0.4 percent fall. Economists had expected a 0.3 percent gain. The growth was also the biggest since February, when production rose 0.9 percent.

Italy's consumer price inflation held steady for the second straight month in August as initially estimated, latest figures from the statistical office Istat showed Monday. The consumer price index rose 0.2 percent year-over-year in August, confirming the flash data, the same rate of increase as in the previous two months. Moreover, it was the fourth successive monthly rise.

Switzerland's retail sales declined in July, after rebounding in June, figures from the Federal Statistical Office showed Monday. Retail sales dropped a seasonally adjusted 0.6 percent from June, when they rose 1.2 percent. In May, sales fell 0.8 percent. Sales excluding fuel dropped 0.4 percent after a 1.1 percent gain in the previous month.

Switzerland's producer and import prices in August declined at the fastest pace in more than six decades, figures from the Federal Statistical Office revealed on Monday. The producer and import price index dropped 6.8 percent annually following a 6.4 percent decrease in July. That was the biggest fall since April 1950, when the measure declined 7.1 percent.