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Stock indices traded lower after trading higher on Monday on news that the Greek Prime Minister Alexis Tsipras reshuffled his team negotiating with European and IMF creditors on Monday. Deputy Foreign Minister, Euclid Tsakalotos, was appointed co-coordinator of the team.
Friday's Eurogroup meeting ended without any results as widely expected. Discussions between the Greek government and its creditors will continue at the next Eurogroup meeting on May 11.
The head of the Eurogroup Jeroen Dijsselbloem rejected the idea of a "Plan B" for Greece if the debt talks are not successful.
The idea was raised by ministers from Slovenia, Slovakia and Lithuania at the Eurogroup's meeting on Friday.
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.
Name Price Change Change %
FTSE 100 7,047.17 -56.81 -0.80 %
DAX 11,946.57 -92.59 -0.77 %
CAC 40 5,212.63 -56.28 -1.07 %
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