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10.06.2014 16:14

European stocks close: stocks traded mixed, last week’s ECB interest rate decision weighed on stock markets

Stock traded mixed. Last week’s ECB interest rate decision weighed on stock markets. The European Central Bank cut its interest rate to 0.15% from 0.25% last Thursday. The ECB also cut its marginal lending to 0.40% from 0.75% and reduced its deposit rate to -0.10% from 0.0%.

Markets were also supported by the strong economic data. Manufacturing output in the U.K. increased 0.4% in April, meeting expectations, after 0.5% gain in March. On a yearly basis, manufacturing production in the U.K. rose 4.4% in April, exceeding expectations for a 4% increase, after a 3.3% increase in March.

Industrial production in the U.K. climbed 0.4% in April, in line with forecasts, after a 0.1% decline in March. On a year-over-year basis, industrial production in the U.K. rose 3.0% in April, after a 2.3% increase in March. Economists had expected a 2.7% gain.

The National Institute of Economic and Social Research (NIESR) released their monthly U.K. GDP estimates. They forecasted that GDP increased by 0.9% in the three months ending in May after rise of 1.1% in the three months ending in April 2014.

Industrial production in France rose 0.3% in April, meeting expectations, after a 0.4% decline in March. March’s figure was revised up from a 0.7% decrease.

On a yearly basis, industrial production in France was flat in April, after a 0.8% fall in March.

Indexes on the close:

Name                                   Price                                    Change                 Change %

FTSE 100                             6,873.55                                 -1.45                         -0.02%

DAX                                   10,028.80                               +20.17                       +0.20%

CAC 40                                4,595.00                                 +5.88                       +0.13%

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