European shares dip but don't sink before Greece summit

martes 7 de julio de 2015 07:57 GYT

* FTSEurofirst 300 down 0.3 pct, Euro STOXX 50 down 0.7 pct

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* Technip slumps after restructuring news (Recasts, adds detail, comment, updates prices)

By Alistair Smout and Liisa Tuhkanen

LONDON, July 7 (Reuters) - European shares fell on Tuesday before a euro zone summit billed as the last chance for Athens to cut a rescue deal, but there was no sign of investor panic two days after Greek voters rejected conditions for a new bailout.

The pan-European FTSEurofirst 300 was down 0.3 percent by 1131 GMT, while the euro zone Euro STOXX 50 fell 0.7 percent, adding to Monday's 2.2 percent drop.

Coutts Global Equity Strategist James Butterfill said investors seemed to be betting on the readiness of the European Central Bank to smooth over any volatility resulting from the Greek crisis.

"We're surprised with how little markets have sold off following the referendum, but there seems to be faith in the 'Draghi put', and peripheral markets have decoupled from Greece," Butterfill said.

"Markets may well tread water until we get some sort of decision from the European summit."   Continuación...