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European stocks close mixed

London - Europe's main stock markets closed mixed Monday on Chinese stimulus hopes following news that China's economy grew in the third quarter at its slowest pace for six years.

China's powerhouse economy expanded by 6.9% in July-September, the weakest since 2009 at the height of the global recession, the National Bureau of Statistics (NBS) said.

At the same time, the outcome beat market expectations of 6.8% expansion, according to analysts polled by AFP.

London's benchmark FTSE 100 index lost 0.40% percent to close at 6 352.33 points, as mining stocks dropped on more disappointing Chinese data with industrial production rising 5.7%year-on-year in September, missing economists' median estimate of 6%.

"Pressure will be ramping up on Beijing to implement more economic stimulus," said analyst Augustin Eden at trading firm Accendo Markets.

In the eurozone, the Paris CAC 40 was little changed up 0.03% to 4 704.07 points with ArcelorMittel - the world's biggest steelmaker - off 1.56% to 5.547 euros.

Frankfurt's DAX 30 index in contrast rose 0.59% to finish at 10 164.31 points, boosted by Deutsche Bank's share rising 3.70% after its announcement of a sweeping restructuring.

US stocks Monday were also mixed on the Chinese data and some disappointing earnings.

In late morning trade in New York, the Dow Jones Industrial Average was at 17 203.78, down 0.07%, while the broad-based S&P 500 fell 0.12% to 2 030.67. The tech-rich Nasdaq Composite Index gained 0.29% to 4 900.68.

Miners struggle

The news from Beijing pulled London lower as the British capital's mining sector is heavily reliant on demand from top commodity consumer China.

In reaction, Swiss mining giant Glencore shares plunged 5.17% to close at 110 pence, BHP Billiton shed 2.97% to 1,096 pence and Rio Tinto lost 2.11% to 2,440 pence.

Whilst the eurozone indices shook off the Chinese data dump, the FTSE struggled in the face of the country's manufacturing slowdown, according to analyst Connor Campbell at trading firm Spreadex.

The Chinese GDP data is the first official confirmation of investors' fears over growth in the world's number two economy and follows a string of weak indicators including on trade and manufacturing activity.

The economy is forecast to grow this year at a slower pace than last year's 7.3%, the worst annual rate in almost a quarter of a century.

In Asian equity trade on Monday, Shanghai rose almost one percent straight after the GDP data release on hopes for fresh stimulus but eventually ended the day 0.14% lower amid a general regional retreat.

Global indices were sent into freefall in August - wiping trillions of dollars off valuations - when Beijing announced a shock devaluation of its yuan currency, which fuelled fears about the economy and leaders' grip on the crisis.

In foreign exchange activity on Monday, the European single currency slipped to $1.1320 from $1.1363 late Friday in New York.

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