TOKYO: European stock-index futures fell after talks over Greece’s debt ended for the day with the nation saying it wouldn’t accept euro-area proposals for it to stick to the terms of its bailout.
Contracts on the Euro Stoxx 50 Index lost 1.2 percent to 3,410 at 6:05 p.m. in London. A Greek government official said a euro-area proposal for the country to observe its existing bailout commitments is “absurd” and “unacceptable.” Euro-area finance ministers met in Brussels and reviewed a draft text regarding the Greek conditions.
The Stoxx Europe 600 Index slid 0.1 percent to 376.55 on Monday, ending little changed after a drop of as much as 0.3 percent. Greece’s ASE Index lost 3.8 percent, the most among 18 western-European markets, as German Finance Minister Wolfgang Schaeuble said on Deutschlandradio that weekend discussions failed to make sufficient progress in identifying common ground.
Greek lenders slid the most in the Stoxx 600, with National Bank of Greece SA, Piraeus Bank SA and Eurobank Ergasias SA down more than 12 percent. The volume of Stoxx 600 shares changing hands was 35 percent lower than the 30-day average. The U.S. market was closed for a holiday.
The Stoxx 600 closed at its highest level since November 2007 on Friday, completing a second week of gains as European leaders signaled some willingness to compromise on bailout terms for Greece. The ASE rallied 11 percent to a two-month high in the period, pushing Italian and Spanish shares higher.
