European stock markets mid-session: Stocks track U.S. losses
European stocks recovered slightly over the course of the day after a negative start tracking losses in the U.S. Greece remains in the focus as the proposed list of measures is far from complete, the head of Eurogroup Jeroen Dijsselbloem said on Sunday. Today Eurozone finance ministers will further discuss on how to proceed with Greece and its reform plans. Time is running out for the country as it is expected to run out of money by the end of the month.
Today Destatis reported data on the Trade Balance of Eurozone's biggest economy that showed a decline from January's balance and was below expectations. The Trade Balance narrowed from revised 21.6 billion euros (21.8) to 19.7 billion. Economist expected a rise to 22.3 billion euros.
Exports showed the sharpest decline in five months and slumped by 2.1% after strong gains in December although the weaker euro should bolster exports in the future. Imports declined by 0.3%.
Market research group Sentix reported data on Investor Confidence today. The survey was conducted among 1000 private and institutional investors. Investor Confidence for March came in at 18.6, climbing 6.2 points, compared to forecasts of 15 points and a previous reading of 12.4, reaching the highest reading since August 2007.
The stronger-than-expected data eases concerns over the economic outlook of the Eurozone. A weaker Euro, Quantitative Easing and lower oil prices boost the European economy. A level above zero shows that optimism prevails, below zero indicates pessimism.
The FTSE 100 index is currently trading -0.70% quoted at 6,863.39. Germany's DAX 30 lost -0.20% trading at 11,528.09. France's CAC 40 is currently trading at 4,931.88 points, -0.65%.
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