European stock markets mid session: stocks traded higher ahead the ECB’s interest rate decision

Stock indices traded higher ahead of the release of the European Central Bank's (ECB) interest rate decision. Analysts expect the central bank to keep its interest rate unchanged.

Market participants also eyed the economic data from the Eurozone. Eurostat released its producer price index for the Eurozone on Thursday. Eurozone's producer price index declined 0.3% in April, missing expectations for a 0.1% rise, after a 0.3% increase in March.

On a yearly basis, Eurozone's producer price index dropped 4.4% in April, missing expectations for a 4.1% decline, after a 4.1% fall in March. March's figure was revised up from a 4.2% drop.

Eurozone's producer prices excluding energy fell 1.2% year-on-year in April, after a 1.1% decline in March. Energy prices dropped at an annual rate of 12.5% in April.

Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. dropped to 51.2 in May from 52.0 in April. It was the lowest level since June 2013. Analysts had expected the index to remain unchanged at 52.0.

A reading above 50 indicates expansion in the construction sector.

The decline was mainly driven by a drop in new orders.

Current figures:

Name Price Change Change %

FTSE 100 6,213.07 +21.14 +0.34 %

DAX 10,220.54 +16.10 +0.16 %

CAC 40 4,481.94 +6.55 +0.15 %