(MENAFN- FxPro) European stocks were mixed on Wednesday, amid mounting concerns over the prospects of a Greek default weighed ahead of a critical June 5 deadline for Athens to reach a deal with its creditors.
During European morning trade, the EURO STOXX 50 rose 0.25%, France's CAC 40 eased 0.06%, while Germany's DAX 30 edged up 0.11%.
Sentiment weakened as Athens was still scrambling to reach an agreement with its international lenders over economic reforms they say must be implemented before the final ‚¬7.2 billion tranche of the country's ‚¬240 billion bailout is released.
Greece is due to make a ‚¬305 million payment to the International Monetary Fund on June 5, but will default if a deal is not reached by then.
European equity markets had strengthened on Tuesday after senior European Central Bank policymaker Benoit Coeure said the central bank is planning to speed up the pace of its bond-buying stimulus program before the summer in order to avoid the "notably lower market liquidity" in late July and August.
Financial stocks were mixed, as BNP Paribas (PARIS:BNPP) climbed 0.52% and Societe Generale (PARIS:SOGN) slid 0.39% in France, while Deutsche Bank (XETRA:DBKGn) dropped 0.50% and Commerzbank (XETRA:CBKG) rallied 0.92% in Germany.
Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) retreated 0.89% and Unicredit (MILAN:CRDI) inched up 0.03% in Italy, while Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) slipped 0.09% and 0.14% in Spain.
Elsewhere, Altice SA (AMS:ATCE) shares surged 6.75% after the French telecom company agreed to buy a majority stake in Suddenlink Communications and was also said to have approached Time Warner Cable Inc (NYSE:TWC). for a takeover.
In London, FTSE 100 dipped 0.06%, led by Burberry, whose shares plunged 5.45% after the clothing retailer lowered its annual earnings forecast.
Meanwhile, mining stocks were mixed on the commodity-heavy index. Shares in Fresnillo (LONDON:FRES) edged up 0.13% and Rio Tinto (LONDON:RIO) rose 0.30%, while Randgold Resources (LONDON:RRS) and Bhp Billiton (LONDON:BLT) declined 0.50% and 0.68% respectively.
In the financial sector, stocks were steady to higher, as Lloyds Banking (LONDON:LLOY) eased just 0.05% and the Royal Bank of Scotland (LONDON:RBS) edged up 0.14%, while Barclays (LONDON:BARC) gained 0.48% and HSBC Holdings (LONDON:HSBA) advanced 0.61%.
Vodafone (NASDAQ:VOD) Group PLC (LONDON:VOD) led gains on the index, surging 3.73% after Liberty Global (NASDAQ:LBTYA) Plc Chairman John Malone said a tie-up with the U.K. phone company would be a "great fit" for his cable group in western Europe.
Market participants were also eyeing the minutes of the Bank of England's latest policy meeting, due later Wednesday.
In the U.S., equity markets pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a 0.01% dip, S&P 500 futures signaled a 0.02% uptick, while the Nasdaq 100 futures indicated a 0.10% rise.
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