European stocks close: stocks closed Greece's debt weighed on markets

Market news

16 April 2015

European stocks close: stocks closed Greece's debt weighed on markets

Stock indices closed lower as Greece's debt weighed on markets. Greece will run out of cash if the Greek government will not sign an agreement with its creditors to receive new tranche of loans. Greece is due to repay the IMF loan of 760 million euro on May 12.

Athens and its creditors will continue negations on April 24.

The Greek Finance Minister Yanis Varoufakis is to meet U.S. President Barack Obama in Washington later in the day.

The ratings agency Standard & Poor's (S&P) lower Greece's credit rating to 'CCC+' from 'B-'.

Indexes on the close:

Name Price Change Change %

FTSE 100 7,060.45 -36.33 -0.51 %

DAX 11,998.86 -232.48 -1.90 %

CAC 40 5,224.49 -29.86 -0.57 %

Federal Reserve Vice Chairman Stanley Fischer: the Fed is likely to raise its interest rate this year

Gold price traded lower due to a stronger greenback

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