Stock indices traded lower on the uncertainty over the Greek debt talks and on the weaker-than-expected industrial production data from the Eurozone. The International Monetary Fund (IMF) spokesman Gerry Rice said on Thursday that the IMF's technical team has left the debt talks in Brussels. The reason is "major differences", he noted. "There are major differences between us in most key areas," Rice said.
News reported that Germany was preparing for a Greek default.
Industrial production in the Eurozone rose 0.1% in April, missing expectations for a 0.3% gain, after a 0.4% decline in March. March's figure was revised down from a 0.3% decrease.
The increase was driven by a rise in durable consumer goods and capital goods output. Durable consumer goods were up 1.0%, while capital goods rose by 0.7%.
On a yearly basis, Eurozone's industrial production gained 0.8% in April, missing expectations for a 1.1% rise, after a 2.1% increase in March. March's figure was revised up from a 1.8 gain.
The increase was driven by a rise in durable consumer goods and in production of capital goods. Durable consumer goods climbed by 1.7% in April from a year ago, while capital goods output rose by 2.1%.
The Office for National Statistics (ONS) released its construction output data for the U.K. on Friday. Construction output in the U.K. declined 0.8% in April, after a 1.4% rise in March.
The decline was driven by a drop in repair and maintenance, which plunged 4.8% in April.
New work increased 1.6% in April.
On a yearly basis, construction output climbed 1.6% in April.
The ONS revised its methodology for measuring construction. For the first quarter as a whole, construction output was down 0.2%.
According to the ONS, the revision could have an impact the U.K. GDP growth. The economy could have expanded at 0.4% in the first quarter rather than 0.3%.
Name Price Change Change %
FTSE 100 6,812.7 -34.04 -0.50 %
DAX 11,282.36 -50.42 -0.44 %
CAC 40 4,947.61 -23.76 -0.48 %