European equities retreat from highs on Greek concerns

jueves 16 de abril de 2015 07:23 GYT
 

* FTSEurofirst 300 retreats from 2000 highs

* Greek debt concerns weigh on market

* Pearson leads media stocks lower

By Atul Prakash

LONDON, April 16 (Reuters) - European equities retreated on Thursday, with growing concerns about Greece's debt situation prompting investors to take some profits after the previous session's 14-year highs.

Greece's ATG share index fell 0.8 percent as the Financial Times reported the International Monetary Fund had rebuffed a request from the country to delay loan repayments.

Greek two-year yields surged to their highest since the bonds were issued last year. Athens is dangerously close to running out of cash, with its reserves expected to dip into negative territory after April 20, a source familiar with the matter has said.

"The equity market is now worried that the Greek situation could escalate. We have seen some spill over of Greece uncertainties into government bond markets. The question is how much calamity will come from this development," Gerhard Schwarz, head of equity strategy at Baader Bank in Munich.

"Other key indexes, such as Germany's DAX, have also been hit because of cautious trading."   Continuación...