European shares fell on Friday,
setting them on course for a weekly loss, as investors were
unnerved by conflicting signals from Greece's debt talks and
data showing private loan growth in the euro zone stalled last
month.
Athens' benchmark share index fell 1.8 percent while
the pan-European FTSEurofirst 300 shed 0.8 percent to
1,602.48 points by 0808 GMT.
The FTSEurofirst was down 0.9 percent for the week so far, which has been marked by uncertainty surrounding Greece's negotiations with its international lenders ahead of a payment deadline for Athens looming next week. The index is still up around 1.7 percent for the month.
Greece's government intends to reach an agreement on a cash-for-reforms deal by Sunday, its spokesman said on Thursday, even as euro zone officials suggested a deal was far from imminent and the head of the International Monetary Fund was quoted as saying the country could leave the currency bloc.
The lack of clarity on the outcome meant some traders were reluctant to make strong bets on future market directions.
"It's just Greece, Greece and Greece," David Madden, a market analyst at IG, said. "The lack of news in either direction tells you why traders are sitting on their hands."
European indexes extended losses after data showed euro zone private sector loans stopped rising in April.
Mergers & acquisition speculation boosted Swiss agrochemicals company Syngenta, which was building up defenses for a possible higher bid from U.S. peer Monsanto , according to a Bloomberg report. Syngenta shares were up 2.3 percent.
The FTSEurofirst was down 0.9 percent for the week so far, which has been marked by uncertainty surrounding Greece's negotiations with its international lenders ahead of a payment deadline for Athens looming next week. The index is still up around 1.7 percent for the month.
Greece's government intends to reach an agreement on a cash-for-reforms deal by Sunday, its spokesman said on Thursday, even as euro zone officials suggested a deal was far from imminent and the head of the International Monetary Fund was quoted as saying the country could leave the currency bloc.
The lack of clarity on the outcome meant some traders were reluctant to make strong bets on future market directions.
"It's just Greece, Greece and Greece," David Madden, a market analyst at IG, said. "The lack of news in either direction tells you why traders are sitting on their hands."
European indexes extended losses after data showed euro zone private sector loans stopped rising in April.
Mergers & acquisition speculation boosted Swiss agrochemicals company Syngenta, which was building up defenses for a possible higher bid from U.S. peer Monsanto , according to a Bloomberg report. Syngenta shares were up 2.3 percent.
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