Lack of Greek deal weighs on European stocks

Persistent concerns of Greece leaving the euro weighed on European stocks on Thursday, with the lack of progress in negotiations on a cash-for-reform deal for Athens pushing investors towards safe-haven German Bunds. European Union leaders are set to meet again on Thursday. The pan-European FTSEurofirst 300 index was down 0.5 per cent at 1,569.82 points after closing 0.4 per cent lower in the previous session. Yields on top-rated German 10-year Bunds, fell 1 basis point to 0.83 per cent. Yields on Europe's lower-rated bonds in Spain, Italy and Portugal rose 2-3 basis points. The dollar index was slightly lower on the day at 95.192. The euro was up slightly at $1.1215. In commodities trading, US crude was steady at $60.24 a barrel. Brent crude added about 0.1 per cent to $63.61. Spot gold edged up to $1,176.80 an ounce, according to Reuters.