European stocks close: stocks closed higher on news that the Greek Prime Minister Alexis Tsipras reshuffled his team negotiating with European and IMF creditors

Stock indices closed higher 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.

The Prime Minister Alexis Tsipras held phone calls with German Chancellor Angela Merkel and Dijsselbloem on Sunday to discuss speeding up the negotiations. According to the Greek government, Greece will resume talks with its creditors today.

German Finance Minister Wolfgang Schaeuble hinted on Saturday that Germany was preparing for a possible Greek default.

Indexes on the close:

Name Price Change Change %

FTSE 100 7,103.98 +33.28 +0.47 %

DAX 12,039.16 +228.31 +1.93 %

CAC 40 5,268.91 +67.46 +1.30 %