European indices are trading lower today as concerns over Greece continue to weigh after the ECB unexpectedly cancelled the acceptance of Greek bonds in return for funding forcing the Greek central bank to provide billions of emergency liquidity for banks in the weeks to come.

Today data on German Factory orders for December came in at +4.2%, largely higher than the expected 1.5% with a reading of -2.4% in the previous month.

The Halifax House Price Index for January rose by +2.0%, beating forecasts of a slight increase of +0.2%. In the three months to January the index rose by +8.5%, higher than the +7.8% predicted by economists.

The Bank of England kept its benchmark interest rates unchanged at 0.50%. The Asset Purchase facility remained at 375 billion pounds. The policy committee voted unanimously.

Market participants look ahead to a set of U.S. data including Initial Jobless Claims.

The commodity heavy FTSE 100 index is currently trading -0.48% quoted at 6,827.08 points. Germany's DAX 30 lost -0.44% trading at 10,863.82. France's CAC 40 is currently trading at 4,664.30 points, -0.68%.