- Martin Van Vliet, an economist at ING Bank
European stocks closed lower on Wednesday after a report showed manufacturing in New York state contracted more than expected.
The Stoxx Europe 600 Index slid 0.07 per cent to 270.35. Germany's DAX Index erased 0.40 per cent and France's CAC 40 Index edged lower 0.03 per cent.
"The surprisingly weak Empire State index is disappointing and shows that the mood in the U.S. industry remains tense," Ulrich Wortberg, an analyst at Helaba Landesbank Hessen-Thueringen, wrote in a note to clients.
"With these numbers, the QE3 topic could get a little bit more life again."
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