CORRECTED-European shares steady, weaker commodity stocks offset pharma rally

lunes 1 de junio de 2015 10:02 GYT
 

(Corrects paragraph 3 to show that Greek shares fell on Friday, not on Monday)

* Pan-European FTSEurofirst 300 flat

* Roche, AstraZeneca gain on positive updates

* Eyes on Greek talks

By Atul Prakash and Francesco Canepa

LONDON, June 1 (Reuters) - European shares held steady at the start of the month on Monday, with a rally in some drug stocks on the back of positive company updates offset by lingering concerns over Greece's debt situation and weaker commodity stocks.

Drugmakers Roche and AstraZeneca, up 2.2 percent and 1 percent respectively, supported the healthcare sector after each published a positive update on one of their anti-cancer drugs.

But Greece missed a self-imposed Sunday deadline for reaching an agreement with its international lenders for a cash-for-reforms deal, giving investors reason for caution. Without a deal Athens risks default or bankruptcy in weeks. The Greek market was closed on Monday, after its ATG share index fell 1.4 percent on Friday.

"I cannot see a deal being done this week with both sides apparently still far off on key issues of labour and pension reform and VAT," Oanda analyst Craig Erlam said.   Continuación...