European stocks close: stocks closed lower on a stronger euro and on the Greek debt crisis
Stock indices closed lower on a stronger euro and on the Greek debt crisis. The U.S. industrial production dropped 0.3% in April, missing expectations for a 0.1% increase, after a 0.3% decline in March. March's figure was revised up from a 0.6% decrease.
The decline was driven by lower mining and utilities output. Mining output dropped by 0.8% in April as oil and gas drilling plunged 14.5%, while utility output fell by 1.3%.
The U.S. manufacturing production remained unchanged in April.
Capacity utilisation rate fell to 78.2% in April from 78.6% in March. March's figure was revised up 78.4% Analysts had expected a capacity utilisation rate of 78.4%.
The Thomson Reuters/University of Michigan preliminary consumer sentiment index dropped to 88.6 in May from a final reading of 95.9 in April, missing expectations for an increase to 96.0. It was the lowest level since October 2014.
Earlier in the day, stocks traded higher on European Central Bank President's comments and as stability seems to return to bond markets. The European Central Bank (ECB) President Mario Draghi said in a speech at the International Monetary Fund in Washington on Thursday that the central bank will not stop its quantitative easing until there is "a sustained adjustment in the path of inflation".
Draghi noted that he wanted that quantitative easing to boost investment and price inflation.
The Office for National Statistics (ONS) released its construction output data for the U.K. on Friday. Construction output in the U.K. rose 3.9% in March, after a 0.3% decline in February.
The increase was driven by a rise in non-housing repair and maintenance work, which soared 20% in March.
On a yearly basis, construction output climbed 1.6% in March.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,960.49 -12.55 -0.18 %
DAX 11,447.03 -112.79 -0.98 %
CAC 40 4,993.82 -35.49 -0.71 %
|remaining time till the new event being published|
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