TOKYO: European stocks fell from their highest level in more than seven years as Greek shares extended declines for a second day.
The Stoxx Europe 600 Index slipped 0.3 percent to 371.59 at 9:15 a.m. in London, paring its weekly advance to 1.2 percent. Shares added 0.1 percent on Thursday, erasing intraday losses, as a rise in energy companies outweighed a slide in Greek shares.
Greece’s ASE Index fell 1 percent today as Prime Minister Alexis Tsipras prepares to set out details of his plans to revive the Mediterranean nation’s economy. A diplomatic push this week seeking support for changes to its bailout ended with a rebuff from Germany, and the European Central Bank shut off a key avenue for Greek banks’ funding.
Tsipras has vowed to stick to his anti-bailout campaign pledges, despite their rejection by German Finance Minister Wolfgang Schaeuble. He will lay out his policy plans on Sunday, in the opening speech of the three-day-long parliamentary debate leading up to a confidence vote to confirm his government.
Investors will also watch U.S. data for indications of the strength of the world’s largest economy. A jobs report Friday from the Labor Department is predicted to show nonfarm payrolls rose by 230,000 last month, while the unemployment rate remained at 5.6 percent. Standard & Poor’s 500 Index futures rose 0.1 percent.
