European stock markets mid session: stocks traded lower as Greeks said “No” to the creditors’ proposals

Stock indices traded lower after of the Greek referendum on Sunday. 61.31% of Greeks voted "No" in the Sunday's referendum, while 38.69% of Greeks voted "Yes".

Greek Finance Minister Yanis Varoufakis has resigned after the referendum.

"Soon after the announcement of the referendum results, I was made aware of a certain preference by some eurogroup participants, and assorted 'partners', for my… 'absence' from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement," he said in his blog on early Monday.

Head of the Eurogroup Jeroen Dijsselbloem said on Sunday that the outcome of the referendum is "regrettable".

"I take note of the outcome of the Greek referendum. This result is very regrettable for the future of Greece. For recovery of the Greek economy, difficult measures and reforms are inevitable. We will now wait for the initiatives of the Greek authorities. The Eurogroup will discuss the state of play on Tuesday 7 July," he said.

Meanwhile, the economic data from the Eurozone was better than expected. Market research group Sentix released its investor confidence index for the Eurozone on Monday. The index increased to 18.5 in July from 17.1 in June, missing expectations for a decline to 18.7. The index rose despite the uncertainty over the Greek debt crisis.

German seasonal adjusted factory orders declined 0.2% in May, beating expectations for a 0.4% drop, after a 2.2% rise in April. April's figure was revised up from a 1.4% gain.

The decline was driven by a drop in new orders from the Eurozone. New orders from the Eurozone plunged 1.5% in May, while orders from other countries increased 1.2%.

Current figures:

Name Price Change Change %

FTSE 100 6,557.92 -27.86 -0.42 %

DAX 10,981.49 -76.90 -0.70 %

CAC 40 4,765.3 -42.92 -0.89 %