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28.04.2015 16:04

European stocks close: stocks closed lower on the weaker-than-expected corporate updates

Stock indices closed lower on the weaker-than-expected corporate updates.

The Greek debt crisis remains in focus. Greek Prime Minister Alexis Tsipras said on Tuesday that he expects an agreement between Greece and its creditors could be reached within two weeks. He also said that he would could a referendum if creditors insisted on demands deemed unacceptable by his government.

Tsipras reshuffled his team negotiating with European and IMF creditors on Monday. Deputy Foreign Minister, Euclid Tsakalotos, was appointed co-coordinator of the team.

Investors are awaiting the results of the Fed's monetary policy on Wednesday.

The preliminary U.K. gross domestic product (GDP) climbed 0.3% in the first quarter, missing expectations for a 0.7% gain, after a 0.6% rise in the fourth quarter. It was the slowest pace since the fourth quarter of 2012.

The slow pace of the growth was driven by weak output in the construction, industrial, and services sectors. Construction fell 1.6% in the first quarter, production declined 0.1%, while services rose 0.5%.

On a yearly basis, the preliminary U.K. GDP increased 2.4% in the first quarter, missing forecasts of a 2.8 rise, after a 3.0% gain in the fourth quarter.

Indexes on the close:

Name Price Change Change %

FTSE 100 7,030.53 -73.45 -1.03 %

DAX 11,811.66 -227.50 -1.89 %

CAC 40 5,173.38 -95.53 -1.81 %

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