TOKYO: European stocks fell from a seven-year high as energy shares declined.
The Stoxx Europe 600 Index slipped 0.2 percent to 379.46 at 8:11 a.m. in London. Total SA and BG Group Plc dropped at least 1.3 percent as crude prices fell, sending a gauge of oil and gas shares to the worst performance among 19 Stoxx 600 industry groups. Pressure also increased for Greece to reach a deal with its creditors before its bailout agreement ends this month.
U.S. and French officials called on Greece to compromise and the European Central Bank granted the nation’s lenders a small increase in emergency funds. Euro-area creditors want Greece to extend terms of its current aid package linked to austerity. The country’s government is pushing against such measures, seeking a bridge program followed by a new accord.
The Stoxx 600 rose 0.9 percent on Wednesday on speculation for a Greek deal after an official said its government will submit a request on Thursday for a six-month loan extension. The gauge has surged 11 percent this year as the ECB announced quantitative easing last month.
The central bank will publish on Thursday a summary of its monetary-policy meeting for the first time. The document will cover the Jan. 22 deliberations behind its decision to start buying government bonds.
