Spain, Italy lead European shares lower on Greek nerves

lunes 2 de febrero de 2015 07:19 GYT

* FTSEurofirst 300 down 0.5 pct after bumper January

* Spanish, Italian stocks lead falls on Greek nervousness

* Greek banking shares bounce as govt says won't appoint execs

By Francesco Canepa

LONDON, Feb 2 (Reuters) - Spanish and Italian shares led European equity indexes lower on Monday as investors grew more worried about the possible ramifications of Greece's debt negotiations over the rest of the periphery.

After a turbulent first week in office, Greece's new government has made clear it wants to end the existing arrangement with the European Union, the European Central Bank and International Monetary Fund "troika" when its aid deadline expires on Feb. 28.

While investors had so far taken the view that the impact of a Greek crisis could be contained, the prospect of tough negotiations between Greece and its lenders was starting to sour appetite for assets in countries such as Spain and Italy, where anti-austerity party have also gained popularity.

Analysts at Goldman Sachs wrote on Monday they were withdrawing their recommendation to buy Italy's FTSE MIB index and Spain's Ibex, which were down 0.6 percent and 2.2 percent at 1057 GMT.

"(W)e do think that (a Greek euro zone) exit would generate heightened volatility and a higher risk premia in other European equity markets, particularly in the periphery," the analysts wrote in a note.   Continuación...