Stock indices closed mixed on hopes for a deal between Greece and its creditors. Athens yesterday failed to reach agreement with its creditors, and it is a step closer to a possible default now. Next round of debt talks is scheduled to be tomorrow.
If a deal is not reached at Saturday's meeting, officials are expected to start preparing a "Plan B" to protect the Eurozone from damaging other countries in the Eurozone.
German Chancellor Angela Merkel said on Friday that the Eurogroup's meeting on Saturday would be decisive for finding a deal for Greece.
The Guardian reported on Friday that the Greek government rejected a five-month extension to its bailout deal.
According to a European official, Greece's lenders offers a financial aid of €15.5 billion in four instalments by the end of November if Greece implements economic reforms. Greece would receive the first instalment of €1.8 billion by Tuesday.
European Commission President Jean-Claude Juncker said on Friday that he was optimistic a deal with Greece could be reached.
Meanwhile, the economic data from the Eurozone was mixed. M3 money supply rose 5.0% in May from last year, missing expectations for a 5.4% gain, after a 5.3 % increase in April.
Loans to the private sector in the Eurozone climbed 0.5% in May from the last year, after a flat reading in April.
German import prices declined by 0.8% in May from last year, after a 0.6% fall in April. Import prices decline since January 2013.
German export prices climbed 1.4% year-on-year in May, after a 1.6% increase in April.
French consumer confidence index remained unchanged at 94 in June, beating expectation for a decline to 93.
The Italian consumer confidence index climbed to 109.5 in June from 106.0 in May. The increase was driven by rises in economic and personal financial expectations subindices.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,753.7 -54.12 -0.79 %
DAX 11,492.43 19.30 0.17 %
CAC 40 5,059.17 17.46 0.35 %