European stock markets mid session: stocks traded higher as Eurozone’s economy expanded in the first quarter

Stock indices traded higher as Eurozone's economy expanded in the first quarter. Eurozone's preliminary gross domestic product (GDP) increased by 0.4% in the first quarter, missing expectations for a 0.5% rise, after a 0.3% gain in the fourth quarter.

On a yearly basis, Eurozone's preliminary GDP rose by 1.0% in the first quarter, missing expectations for a 1.1% increase, after a 0.9% gain in the fourth quarter.

Industrial production in the Eurozone fell 0.3% in March, missing expectations for a flat reading, after a 1.0% rise in February. February's figure was revised down from a 1.1% increase.

The decline was driven by a drop in production of energy, which fell 1.7% in March.

On a yearly basis, Eurozone's industrial production gained 1.8% in March, in line with expectations, after a 1.9% increase in February. February's figure was revised up from a 1.6 gain.

The increase was driven by a rise in non-durable consumer goods and in production of energy.

The Greek debt problem still weighs on markets. Greece yesterday repaid €750 million in loans to the International Monetary Fund (IMF).

According to Reuters, the Greek government used emergency reserves in its holding account with the IMF to repay loans.

The U.K. unemployment rate fell to 5.5% in the January to March quarter from 5.7% in the October to December quarter, in line with expectations.

It was the lowest level since 2008.

The claimant count decreased by 12,600 people in April, missing expectations for a drop by 20,000, after a decrease of 16,700 people in March. It was the smallest monthly decline since March 2013.

March's figure was revised down from a decline of 20,700.

Average weekly earnings, excluding bonuses, climbed by 2.2% in the January to March quarter, exceeding expectations for a rise by 2.1%, after a 1.9% gain in the October to December quarter.

Average weekly earnings, including bonuses, rose by 1.9% in the January to March quarter, exceeding expectations for a gain of 1.7%, after a 1.7% increase in the October to December quarter.

Current figures:

Name Price Change Change %

FTSE 100 6,979.75 +45.95 +0.66 %

DAX 11,553.65 +81.24 +0.71 %

CAC 40 5,035.28 +60.63 +1.22 %