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- European stocks close: stocks closed higher, driven by the better-than-expected German Ifo business climate index
European stocks close: stocks closed higher, driven by the better-than-expected German Ifo business climate index
Stock indices closed higher, driven by the better-than-expected German Ifo business climate index. German business confidence index climbed to 108.6 in April from 107.9 in March, exceeding expectations for a rise to 108.5. It was the sixth consecutive increase.
"The upswing in the German economy continues," Ifo President Hans-Werner Sinn said.
He added that manufacturers "expressed slightly less optimism about future business developments".
Today's Eurogroup meeting ended without any results as widely expected. Discussions between the Greek government and its creditors will continue at the next Eurogroup meeting on May 11.
The head of the Eurogroup Jeroen Dijsselbloem said today that Greece has to deliver a complete economic reform plan to get a new tranche of loans (€7.2 billion).
Indexes on the close:
Name Price Change Change %
FTSE 100 7,070.7 +17.03 +0.24 %
DAX 11,810.85 +87.27 +0.74 %
CAC 40 5,201.45 +22.54 +0.44 %
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