ROME: Stocks across Europe fell Thursday, deflated as a potential deal between debt-laden Greece and its creditors didn’t come through, the prospect of which sent shares soaring in the previous session.
The Stoxx Europe 600 SXXP, -0.50% lost 0.5% to end at 406.83, with only the technology sector advancing. Oil and gas shares SXEP, -0.90% were yanked lower, in part as oil futures CLN5, +1.16% traded around a five-week low.
On the country indexes, Germany’s DAX 30 DAX, -0.79% shed 0.8% to 11,677.57 after Wednesday’s leap of 1.3%. France’s CAC 40 PX1, -0.86% gave up 0.9% at 5,137.83, but the U.K.’s FTSE 100 UKX, +0.11% turned up by 0.1% at 7,040.92.
The Stoxx 600 on Wednesday popped up 1.3%, following comments from Greece’s Prime Minister Alexis Tsipras that suggested Athens was in the final stretch of a deal on economic reforms with creditors.
But other key European officials late Wednesday said talks were still ongoing. International Monetary Fund Managing Director Christine Lagarde said in a TV interview that she “would not say that we already have reached substantial results,” according to a Reuters report. Greece is feared to be running out of cash and needs to cut a deal to unlock its next round of bailout funds. The country faces a debt-service payment of 1.5 billion euro to the IMF on June 5.
Reports Thursday cited a Greek official saying the government was aiming to reach a deal by Sunday, but the European Commission said there were more issues to work through.
