ROME: Europe’s main stock markets have retreated as investors tracked the latest news flow on stalled Greek debt talks, while HSBC bank slid on revelations of a radical overhaul.
Frankfurt’s DAX 30 index dropped 0.6 per cent to close at 11,001.29 points and the CAC 40 in Paris reversed 0.2 per cent to 4,850.22 points.
London’s benchmark FTSE 100 slid 0.5 per cent to end the day at 6,753.8 points.
Shares in bank giant HSBC slumped 0.9 per cent in London, as investors also digested drastic job cuts aimed at saving up to $US5 billion in annual costs by late 2017.
Athens meanwhile submitted new reform proposals to the European Union as it struggles to secure a deal to release €7.2 billion ($A10.5bn) of remaining bailout funds with a huge debt repayments to the IMF due at the end of the month.
Greek Prime Minister Alexis Tsipras has warned that if no deal is reached it would lead to the collapse of the eurozone.
“European stocks are once again heading lower as investor concerns grow about the prospects of Greece actually leaving the eurozone,” Forex.com technical analyst Fawad Razaqzada said.
