European stocks close: stocks traded mixed after the better-than-expected U.S. housing market data

The stock indices stocks traded mixed amid the better-than-expected U.S. housing market data. Investors were cautious ahead of this weekend’s European Parliament elections.

The IFO - Business Climate index for Germany dropped to a 5-month low of 110.4 in May, from 111.2 in March. Analysts had expected the index to decline to 111.0. Market participants hope the further stimulus measures by the European Central Bank will be introduced in June due to recently released weak economic data in the Eurozone.

German gross domestic product climbed 0.8% in the first quarter (Q4 2013: +0.8%), meeting analysts’ expectations.

On a yearly basis, German gross domestic product rose 2.3% in the first quarter (Q4 2013: +2.2%), exceeding analysts’ expectations of a 2.2% gain.

The business climate index in Belgium decreased to -6.8 in March, from -4.6 in February. Analysts had expected -4.7.

Pandora A/S declined 4.2% as some shareholders sold a stake of about 10%.

Indexes on the close:

Name                                   Price                                    Change                 Change %

FTSE 100                            6,815.75                                -4.81                      -0.07%

DAX                                     9,768.01                            +47.10                      +0.48%

CAC 40                                4,493.15                            +14.94                      +0.33%