European shares steadied in early trading on Thursday after a strong
rally in the previous session, with the lack of any concrete progress
related to Greek debt negotiations prompting investors to avoid strong
bets.
Greek Prime Minister Alexis Tsipras held a new round of
late-night talks with the leaders of Germany and France and agreed to
intensify negotiations with Athens' creditors ahead of a looming default
at the end of the month.
The talks have been deadlocked over Greece's rejection of the creditors' demands for cuts in pensions and unpopular labour market reforms as conditions for releasing frozen bailout funds. Greece will be in default at the end of June without fresh funds to let it to repay €1.6bn to the IMF.
The pan-European FTSEurofirst 300 index was up 0.07% at 1 549.91 points by 09:15 after surging 1.7% in the previous session.
The talks have been deadlocked over Greece's rejection of the creditors' demands for cuts in pensions and unpopular labour market reforms as conditions for releasing frozen bailout funds. Greece will be in default at the end of June without fresh funds to let it to repay €1.6bn to the IMF.
The pan-European FTSEurofirst 300 index was up 0.07% at 1 549.91 points by 09:15 after surging 1.7% in the previous session.
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