European stocks close: stocks closed lower ahead of the results of the Eurogroup’s meeting today

Stock indices closed lower ahead of the results of the Eurogroup's meeting today. The Greek parliament approved the draft deal on the third bailout programme on Friday. Out of 300 Greek MPs 222 voted for the deal, 64 voted against the deal, 11 abstained and three were absent.

Out of 149 Syriza MPs 43 voted against the deal.

News reported that the Greek Prime Minister Alexis Tsipras will ask for a confidence vote before parliament in the next week.

Eurozone finance ministers are expected to approve the deal later on Friday.

A Greek official said on Friday that the Greece will get €23 billion in the first tranche from the third bailout programme. €13 billion will be used to cover the debt repayment and an additional €10 billion will be used to bolster capitalisation levels of Greek banks.

Meanwhile, the economic data from the Eurozone was mixed. Eurozone's preliminary gross domestic product (GDP) increased by 0.3% in the second quarter, missing expectations for a 0.4% rise, after a 0.4% gain in the first quarter.

On a yearly basis, Eurozone's preliminary GDP rose by 1.2% in the second quarter, missing expectations for a 1.3% increase, after a 1.0% gain in the first quarter.

Eurostat released no details of the component breakdown of GDP.

Eurozone's final harmonized consumer price index dropped 0.6% in July, in line with the previous estimate, after a flat reading in June.

On a yearly basis, Eurozone's final consumer price inflation remained unchanged at 0.2% in July, in line with the previous estimate.

Eurozone's consumer price inflation excluding food, energy, alcohol and tobacco rose to an annual rate of 1.0% in June from 0.8% in June, in line with the previous estimate.

Germany's preliminary GDP gained by 0.4% in the second quarter, missing expectations for a 0.5% rise, after a 0.3% increase in the first quarter.

The increase was driven by higher exports as the euro remained weak. Exports increased much more than imports.

Household and government consumption expenditure continued to develop positively.

On a yearly basis, Germany's GDP rose to 1.6% in the second quarter from 1.1% in the first quarter, exceeding expectations for a gain to 1.5%.

France's preliminary GDP was flat in the second quarter, missing expectations for a 0.2% rise, after a 0.7% increase in the first quarter. The first quarter's figure was revised up from a 0.6% gain.

On a yearly basis, Germany's GDP rose to 1.0% in the second quarter from 0.8% in the first quarter.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,550.74 -17.59 -0.27 %

DAX 10,985.14 -29.49 -0.27 %

CAC 40 4,956.47 -30.38 -0.61 %