Greek Concerns Hurt Euro Banks Keeping Markets in the Red

“European stocks fell as banks declined after officials agreed to review the terms of Greece’s bailout, reigniting concern about the region’s sovereign debt crisis. U.S. index futures and Asian equities advanced.

National Bank of Greece SA (ETE) dropped 3.54 percent as the cost of insuring Greek debt climbed to a record. HSBC Holdings Plc (HSBA) slid 1.6 percent after Europe’s largest bank by market value reported higher costs. Centrica Plc (CNA) led utilities lower after saying higher taxes will hurt earnings. MAN SE (MAN) gained 2.6 percent after Volkswagen AG offered to buy the truckmaker.

The benchmark Stoxx Europe 600 Index fell 0.5 percent to 280 at 11:46 a.m. in London, extending last week’s 0.9 percent decline. The measure has still climbed 6.8 percent since March 16 as companies reported earnings that topped estimates and the Federal Reserve pledged to keep interest rates low.”

Full article