LONDON (TheDeal) -- European stocks were mixed on Wednesday amid another crunch meeting on Greece, and as U.K. services growth registered its weakest pace in five months. Mining stocks fell in London on oversupply worries.
In London, the FTSE 100 was little changed at 6,924.89, while in the CAC 40 held steady at 5,003.69, and the DAX inched up 0.44% to 11,378.60 in Frankfurt.
Investors were awaiting the outcome of Wednesday's Brussels tête-à-tête between European Commission President Jean-Claude Juncker and Greek Prime Minister Alexis Tsipras on a final proposal from creditors to stave off a Greek default. Greek investors were in a more buoyant buying state of mind, sending the Athens Stock Exchange Index up 2.95%.
Later in the day Wednesday, there may also be comments on Greece from European Central Bank President Mario Draghi at a Frankfurt early afternoon press conference immediately following the monetary policy meeting.
"Draghi is probably losing patience like everyone else, and we can expect more tough words on Wednesday," wrote economist Frederik Ducrozet of Crédit Agricole in a morning note. "In the end, we still believe that the ECB will maintain liquidity access for Greek banks as long as negotiations are moving in the right direction." He also expects the ECB to stay the course on monetary policy, underscoring its firm commitment to quantitative easing.
As the next act of Europe's ongoing Greek drama plays out, investors were digesting the latest data on the U.K. and global economies. In the U.K., Markit Economics's services output index slowed to 56.5 in May from 59.5 in April, its steepest decline since August 2011 and now the weakest level in five months. But the report noted that expansion remains strong as firms reported lower business uncertainty after last month's election.