European markets close lower: Euro Stoxx 50 -1.37%, DAX -0.92%, CAC 40 -0.93%, FTSE 100 -0.27%

European cash markets finished lower: the Euro Stoxx 50 closed down 1.37 percent, the DAX closed down 0.92 percent, the CAC 40 closed down 0.93 percent and the FTSE 100 closed down 0.27 percent. UK volume leaders were Lloyds Banking Group down 2.9 percent, Barclays down 3.48 percent, BP down 0.94 percent, HSBC down 1.61 percent and Shell down 0.9 percent. continental European volume leaders were Deutsche Telekom down 4.2 percent, UBS down 0.81 percent, Nestle down 2.63 percent, SAP down 2.6 percent and Novartis down 0.79 percent.