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28.05.2015 10:00

European stock markets mid session: most stocks traded lower as concerns over the Greek debt continued to weigh on markets

Most stock indices traded lower as concerns over the Greek debt continued to weigh on markets. Prime Minister Alexis Tsipras said on Wednesday that Athens was "close" to a deal with its creditors. But some top European officials and International Monetary Fund Managing Director Christine Lagarde denied that there is a progress in debt talks between Greece and its creditors.

"I would not say that we already have reached substantial results," Lagarde said in an interview.

The European Commission released its economic sentiment index for the Eurozone on Thursday. The index remained unchanged at 103.8 in May, beating expectations for a decline to 103.5.

April's figure was revised up from 103.7.

The consumer confidence index dropped to -5.5 in May from -4.6 in April due to faltering optimism about the level of future unemployment, the future general economic situation and the future savings.

The industrial confidence index increased to -3.0 in May from -3.2 the previous month, in line with expectations, due to optimistic production expectations.

The services sentiment index climbed to 7.8 in May from 7.0 in April due to optimistic demand expectations and the better assessment of the past business situation.

The construction confidence index rose to -25.0 in May from -25.5 in April due to the better assessment of the level of order books.

The business climate index was down to 0.28 in May, missing forecasts of a rise to 0.35.

The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Thursday. The revised U.K. GDP expanded at 0.3% in the first quarter, missing expectations for a 0.4 gain, after a 0.5% rise in the fourth quarter. It was the slowest pace since the fourth quarter of 2012.

On a yearly basis, the revised U.K. GDP rose 2.4% in the first quarter, missing forecasts of a 2.5% increase, after a 3.0% gain in the fourth quarter.

The service sector climbed 0.5% in the first quarter, the construction sector dropped 1.6%, and the production sector was down 0.1%, while agriculture sector decreased 0.2%.

Current figures:

Name Price Change Change %

FTSE 100 7,047.08 +13.75 +0.20 %

DAX 11,734.21 -36.92 -0.31 %

CAC 40 5,153.66 -28.87 -0.56 %

28.05.2015 12:00

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