Euro zone shares off lows on hopes of last-minute Greek deal
* Euro STOXX 50 extends Monday's slump, down 0.3 pct
* Greece just hours away from debt default
* Luxury sector hit by BofAMerrillLynch downgrade
By Atul Prakash
LONDON, June 30 (Reuters) - The euro zone's top share index steadied on Tuesday, a day after posting its biggest one-day percentage drop since 2011, as the European Union made a last-ditch bid to salvage a Greek bailout deal.
With billions of euros in locked-up bailout funds due to expire at midnight, the European Commission urged Greece to accept the proposed deal, while holding out hopes that some tweaks could still be possible.
Greece submitted a new two-year aid proposal, while German Finance Minister Wolfgang Schaeuble told lawmakers Greece would not have to leave the euro zone if Greeks voted against the bailout package in a referendum on Sunday.
"There have been concerns that Greeks have shot themselves in the foot, closed the door and cut themselves off from funding, leading to an exit from the euro zone. But Schaeuble made some conciliatory remarks, giving hopes that the door is still open to find a solution," B Capital Wealth Management managing director, Lorne Baring, said.
"For any investors with risk tolerance, this is an opportunity to buy European equities. The economic picture is broadly improving and has got value, supported by the European Central Bank's quantitative easing programme." Continuación...