European shares rally on reports of Greek debt plan

martes 10 de febrero de 2015 11:54 GYT

* FTSEurofirst 300 up 0.6 pct, Greece's ATG up 8 pct

* UBS drops after warning on impact from Swiss franc

* Raiffeisen jumps after saying will cut exposure to Russia

By Blaise Robinson

PARIS, Feb 10 (Reuters) - European stocks rose on Tuesday, boosted by several press reports pointing to a possible debt agreement between Greece and its international creditors, with one report citing a six-month debt extension.

Athens's ATG index rose 8 percent, with National Bank of Greece surging 21 percent, Eurobank up 20 percent and Bank of Piraeus rising 16 percent.

Despite the day's rally, Greek banking stocks are sill down 27 percent in 2015.

A report by MNSI, citing sources, said the European Commission would table a compromise proposal whereby Greece would ask for a six-month period during which it would discuss and agree with lenders all pending issues and a post-bailout plan.

"The market wants to believe there's a Greek deal right around the corner, but there's nothing concrete for the moment and it could take a long time before they reach an agreement. There's a risk of disappointment here," Meeschaert fund manager Frederic Rozier said.   Continuación...