Stocks
in Europe closed at their highest level in more than seven years. Greek
shares fell amid concern over talks between the nation™s government and
European leaders.
The
Stoxx Europe 600 Index added 0.1 percent to 372.51 at the close of
trading, erasing intraday losses of as much as 0.6 percent as energy
shares advanced. The ECB restricted loans to Greece, a decision that
will raise financing costs for the nation™s banks and increase oversight
by policy makers. The Greek ASE Index slid 3.4 percent as lenders
slumped.
Following
the ECB™s move, the government in Athens held onto demands to end
austerity. German Finance Minister said after a meeting with his Greek
counterpart that they œagreed to disagree, signaling no compromise.
Optimism that Greece™s new government will soften its anti-austerity
stance had sent the Stoxx 600 higher earlier this week, with the ASE
posting its biggest three-day rally since 1991.
The
Stoxx 600 has surged 8.8 percent this year after the ECB announced a
bond-buying plan that included sovereign bonds. The volume of Stoxx 600
shares changing hands was 5.3 percent greater than the 30-day average,
data compiled by Bloomberg show.
Source : Bloomberg
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