European stocks fell for the first time in four days as investors watched developments in Greek bailout talks and euro-area government bonds slid.
The Stoxx Europe 600 Index dropped 0.9 percent to 397.59 at 8:09 a.m. in London, with energy shares leading declines. Yields surged on 10-year notes in Italy, Spain, Portugal and on German bunds.
High expectations for the European Central Bank’s bond-buying program pushed global bond valuations to extreme levels, triggering a “large and vicious” selloff in European debt, Goldman Sachs Group Inc. wrote in a note.
Greek Finance Minister Yanis Varoufakis told euro-area governments his country plans to strike a bargain to win the final tranches of aid. His Dutch counterpart, who led a meeting of ministers, said Monday they are making faster progress.
Greece has readied a repayment to the International Monetary Fund, officials said. The ECB reassesses Greek banks’ emergency liquidity access on Wednesday. Total SA and BP Plc slipped more than 1 percent, with a gauge of energy shares snapping two days of gains as oil prices held losses.
Among shares active on corporate news, EasyJet Plc lost 5.6 percent after saying flight cancellations in April stemming from French strikes would hurt pretax profit by about 25 million pounds ($39 million). Carlsberg A/S slid 3.4 percent after saying the Russian beer market fell in the first quarter.
Numericable-SFR and Altice SA jumped more than 5.8 percent after they both reported an increase in first-quarter earnings. ThyssenKrupp AG climbed 2.5 percent after the German steelmaker raised its full-year profit forecast. Royal Ahold NV and Delhaize Group rose more than 3.1 percent after confirming merger talks.
The Stoxx 600 rose Monday amid gains in retailers and miners, closing 3.2 percent away from a record in April. It climbed the most this year on Friday, buoyed by a surprise election win for the Conservatives and improving U.S. jobs data.
bloomberg.com
The Stoxx Europe 600 Index dropped 0.9 percent to 397.59 at 8:09 a.m. in London, with energy shares leading declines. Yields surged on 10-year notes in Italy, Spain, Portugal and on German bunds.
High expectations for the European Central Bank’s bond-buying program pushed global bond valuations to extreme levels, triggering a “large and vicious” selloff in European debt, Goldman Sachs Group Inc. wrote in a note.
Greek Finance Minister Yanis Varoufakis told euro-area governments his country plans to strike a bargain to win the final tranches of aid. His Dutch counterpart, who led a meeting of ministers, said Monday they are making faster progress.
Greece has readied a repayment to the International Monetary Fund, officials said. The ECB reassesses Greek banks’ emergency liquidity access on Wednesday. Total SA and BP Plc slipped more than 1 percent, with a gauge of energy shares snapping two days of gains as oil prices held losses.
Among shares active on corporate news, EasyJet Plc lost 5.6 percent after saying flight cancellations in April stemming from French strikes would hurt pretax profit by about 25 million pounds ($39 million). Carlsberg A/S slid 3.4 percent after saying the Russian beer market fell in the first quarter.
Numericable-SFR and Altice SA jumped more than 5.8 percent after they both reported an increase in first-quarter earnings. ThyssenKrupp AG climbed 2.5 percent after the German steelmaker raised its full-year profit forecast. Royal Ahold NV and Delhaize Group rose more than 3.1 percent after confirming merger talks.
The Stoxx 600 rose Monday amid gains in retailers and miners, closing 3.2 percent away from a record in April. It climbed the most this year on Friday, buoyed by a surprise election win for the Conservatives and improving U.S. jobs data.
bloomberg.com
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