TeleTrade - Analytics

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    23.03.2016 17:00 European stocks close: stocks closed mixed on lower oil prices

    Stock indices closed mixed as oil prices declined on a higher-than-expected increase in U.S. crude oil inventories.

    No major economic reports were released in the Eurozone.

    European Central Bank (ECB) Governing Council member Jens Weidmann said in a speech on Wednesday that the latest stimulus measures by the ECB went too far and did not convince him.

    The German Council of Economic Experts (GCEE) lowered its growth forecast on Wednesday. The German economy is expected to expand 1.5% in 2016, down from its previous estimate of 1.6%, and 1.6% in 2017. The downward revision was driven by weaker external demand.

    Eurozone's inflation is expected to be 0.2% in 2016, down from its previous forecast of 1.1%, and 1.1% in 2017.

    The experts expects the economy in Germany to continue to expand, driven by consumer spending, expansionary fiscal policy, and monetary policy.

    Indexes on the close:

    Name Price Change Change %

    FTSE 100 6,199.11 6.37 0.10 %

    DAX 10,022.93 32.93 0.33 %

    CAC 40 4,423.98 -7.99 -0.18 %


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