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Stock indices closed lower after comments by European Central Bank President Mario Draghi. He told the European Parliament in Brussels on Monday that the economic growth in the Eurozone "is gaining momentum" due to in particular falling oil prices, higher external demand, easy financing conditions and a weaker euro.
Draghi noted that the central bank monitors closely any potential risks to financial stability in the Eurozone, and added that "currently these risks are contained".
Eurozone's consumer confidence index rose to -3.7 in March from -6.7 in February. Analysts had expected the index to climb to -6.0.
Germany's Bundesbank released its monthly report on Monday. The central bank expects a strong growth of German economy in the first quarter of year. "There are also signs of a continued vigorous upward economic movement in the second quarter," Bundesbank added.
The Confederation of British Industry (CBI) industrial order books balance dropped to zero in March from +10% in February. Analysts expected the CBI industrial order books balance to decrease to +9%.
The decline was driven by a stronger pound and a weak economy in the Eurozone.
Volume of output for the next three months fell to +22 in March, down from +25 in February.
Indexes on the close:
Name Price Change Change %
FTSE 100 7,037.67 +15.16 +0.22 %
DAX 11,895.84 -143.53 -1.19 %
CAC 40 5,054.52 -32.97 -0.65 %
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