European Markets Close In A Sea Of Red

Pope FrancisREUTERS/Alessandro BianchiPope Francis presides over the Holy Mass for the Assumption of Mary from the papal summer residence in Castelgandolfo south of Rome, August 15, 2013.

European stock markets just closed for the day, and virtually all of them took losses.
The London FTSE fell 1.7%, while the French CAC 40 and Spanish IBEX 35 closed down 0.6%.

The German Dax closed down 0.7%.

The only major data release out of Europe today was July U.K. retail sales, which actually came in better than market economists had predicted.

Italy and a few other markets across Europe were closed for Assumption Day, but trading volume on exchanges remaining open was light throughout the region.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.