Europe index futures drop, signaling stoxx 600 to resume losses
By Bloomberg
Europe’s index futures fell after equities climbed for the first time in seven days.
Contracts on the Euro Stoxx 50 Index expiring this month dropped 0.2 percent to 3,519 at 7:05 a.m. in London. The Stoxx Europe 600 Index jumped the most in a month on Wednesday, rebounding from its lowest level since February.
Investors are watching developments in Greek negotiations. Germany may be prepared to endorse a rescue payment in return for just one reform from the creditors’ list of demands as a start, according to people familiar with the matter. A government spokesman denied that it is considering such a deal.
Europe’s benchmark gauge lost 7.3 percent from its April record through Tuesday. But even with lingering concerns over Greece, European Central Bank stimulus is providing a floor to drops as traders increasingly view them as buying opportunities. In past instances when the Stoxx 600 fell for six straight days, it ended in gains of more than 7.5 percent in the following month.
Greece’s ASE Index fell 1.1 percent on Wednesday to its lowest level since April 23. A gauge tracking its banks lost 5.5 percent.
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