European Stocks Close Lower

Asian markets finished higher

European stock markets closed lower on Thursday, as crude prices rose. London's Financial Times-Stock Exchange 100 index fell 24 points, or 0.52%, to 2,683. The September CBI factory orders index fell to negative-6 from 2 in August. Reuters was lower after Morgan Stanley lowered its 2005 earnings forecast by 15%. Barratt Developments and George Wimpey were lower after the International Monetary Fund said that Britain's house prices may be subject to a "sharp" drop as the cost of borrowing rises.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.