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- European stocks close: stocks closed lower on the economic data from the Eurozone
European stocks close: stocks closed lower on the economic data from the Eurozone
Stock indices closed lower on the economic data from the Eurozone. The European Central Bank (ECB) released its current account on Monday. Eurozone's current account surplus declined to a seasonally adjusted €25.4 billion in January from €28.6 billion in December. December's figure was revised up from a surplus of €25.5 billion.
The trade surplus rose to €27.6 billion in January from €27.2 billion in December.
The surplus on services decreased to €3.6 billion in January from €4.9 billion in December.
Eurozone's unadjusted current account surplus dropped to €6.3 billion in January from €44.8 billion in December. December's figure was revised up from a surplus of €41.4 billion.
ECB Executive Board Member Benoit Coeure said in a speech Monday that the central bank's latest stimulus measures should help to boost lending to households and businesses and to support the recovery, noting that there was "no shortage of tools".
He also said that the ECB's stimulus measures supported demand for goods and services in the Eurozone and improved financing conditions.
The Bundesbank released its monthly report on Monday. The central bank said that it expected the German economy to expand in the first quarter of 2016 at least as strong as in the second half of 2015, while the economic growth is expected to slow in the second quarter of 2016. The German economy grew 0.3% in the third and fourth quarters of 2015.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,184.58 -5.06 -0.08 %
DAX 9,948.64 -2.16 -0.02 %
CAC 40 4,427.8 -34.71 -0.78 %
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