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European stocks are trading steady close to their opening. Stalling negotiations between Greece and the E.U. weigh on the markets as the country is struggling to unlock more bailout funds. Greece failed to reach an agreement with the European Union and the IMF. The proposed reforms were rather seen as 'ideas' than concrete plans and therefor dismissed. Antonis Samaras announced yesterday that he would be willing to join a unity government if the government commits to stay in the Eurozone. Yesterday the ECB raised the cap on the Emergency Liquidity Assistance for Greek banks.
According to Markit the U.K. construction purchasing managers' index declined today to a 3 month low with a reading of 57.8 for the month of March. Analyst expected the PMI to rise from 60.1 to 60.4. U.K.'s construction output growth has lost some of its momentum this year although it has settled in at a strong pace, according to the author of the report.
The ECB Monetary Policy Meeting Accounts will be in the focus today. Later in day U.S. data on International Trade, Initial Jobless Claims and Factory orders will be reported.
The FTSE 100 index is currently trading +0.12% quoted at 6,817.66. Germany's DAX 30 lost -0.09% trading at 11,990.10. France's CAC 40 is currently trading at 5,065.09 points, +0.06%.
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