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    07.07.2015 16:00 European stocks close: stocks closed lower on concerns over the possible Greek exit from the Eurozone

    Stock indices closed lower on concerns over the possible Greek exit from the Eurozone. The Eurogroup's meeting ended without results today. According to multiple sources, Athens did not present new proposals. Reuters reported that Greece will present new proposals maybe tomorrow.

    The summit of the Eurozone leaders is scheduled to be later in the day.

    Meanwhile, the economic data from the Eurozone was mixed. German industrial production was flat in May, missing expectations for a 0.1% gain, after a 0.6% rise in April. April's figure was revised down from a 0.9% increase.

    According to the French Customs, France's trade deficit widened to €4.0 billion in May from €3.3 billion in April. April's figure was revised down from a deficit of €3.0 billion.

    Analysts had expected a trade deficit of €3.3 billion.

    Exports declined 0.6% in May, while imports rose 1.2%.

    The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Tuesday. Manufacturing production in the U.K. dropped 0.6% in May, missing expectations for a 0.1% gain, after a 0.4% decrease in April.

    Manufacturing output was driven by a decline in a decline in the manufacture of weapons and ammunition, which dropped 21.5%.

    On a yearly basis, manufacturing production in the U.K. increased 1.0% in May, missing forecast of a 1.8% gain, after a 0.1% rise in April. April's figure was revised down from a 0.2% gain.

    Industrial production in the U.K. climbed 0.4% in May, beating forecasts of a 0.2% fall, after a 0.3% gain in April. April's figure was revised down from 0.4% increase.

    The increase in the industrial output was driven by higher oil and gas production. Oil and gas extraction increased 7.3% in May.

    On a yearly basis, industrial production in the U.K. gained 2.1% in May, exceeding expectations for a 1.6% rise, after a 1.2% increase in April.

    The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Tuesday. The GDP estimate rose by 0.7% in three months to June, after a 0.6% growth in three months to May.

    Indexes on the close:

    Name Price Change Change %

    FTSE 100 6,432.21 -103.47 -1.58 %

    DAX 10,676.78 -213.85 -1.96 %

    CAC 40 4,604.64 -106.90 -2.27 %


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