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By Bloomberg

The euro rebounded from its biggest drop in three months as the region’s finance ministers prepared to meet for the third time in a week to unlock aid for Greece. The pound rallied and gilts dropped amid a call for higher interest rates, while China led gains in emerging-market stocks.

Europe’s shared currency climbed 0.5 percent to $1.1220 at 10:03 a.m. in London. The pound gained against 12 of its 16 major counterparts and the yield on 10-year U.K. bonds increased four basis points to 2.15 percent. The Stoxx Europe 600 Index and U.S. index futures were little changed. Shares in Shanghai capped the biggest two-day gain in three weeks. Oil in New York rose 0.6 percent.

Finance chiefs are set to hold an emergency meeting on Wednesday to work out a deal to avert a Greek default with less than a week until the country’s bailout expires. BOE committee member Martin Weale told the Financial Times that policy makers should be ready to raise rates as early as August. U.S. gross domestic product probably shrank less than initially forecast for the first quarter, economists said before a Commerce Department report.

“It’s probably 2-to-1 that we’ll get the deal on Greece because it’s probably the best deal they’re going to get,” David Joy, chief market strategist for Ameriprise Financial Inc., said from Boston in a Bloomberg Television interview. “That will allow the market to focus on the fundamentals.”

The Stoxx 600 swung between gains and losses after a 3.9 percent rally in four days. Greece’s ASE Index fell 1.5 percent, the most among western European markets, for its first decline in five days.

Bouygues SA sank 8 percent after rejecting Numericable- SFR’s bid for its wireless business. Numericable-SFR slumped 10 percent and its holding company Altice SA lost 6.5 percent. Orange SA declined 3.2 percent, and Iliad SA dropped 6.2 percent.

Royal Ahold NV added 2.1 percent after agreeing to acquire Delhaize Group for about 9.32 billion euros ($10.4 billion) in shares. Delhaize slid 4.3 percent.

Julius Baer Group Ltd. rose 4.7 percent after Switzerland’s third-largest wealth manager said it will take a provision of $350 million by the end of the month to settle a U.S. criminal investigation into whether it helped Americans evade taxes.

S&P 500 E-mini futures expiring in September were little changed with the index near a record. The Nasdaq Composite Index extended an all-time high on Tuesday.

Netflix Inc. added 3.6 percent in early New York trading after declaring a 7-for-1 stock split that will take effect on July 14.

The Shanghai Composite Index jumped 2.5 percent, climbing 4.7 percent in the two trading days this week. The gauge plunged 13 percent last week, the worst loss for the period since the 2008 global financial crisis, after an estimated 6.7 trillion yuan ($1.08 trillion) of liquidity was locked up due to initial public offerings.

Hong Kong’s Hang Seng China Enterprises Index rose 0.6 percent.

Abu Dhabi’s benchmark rose 1.4 percent, led by a 5.8 percent increase in Emirates Telecommunications Corp. The shares rose 15 percent on Tuesday after the United Arab Emirates said it would lift a ban on foreign ownership in its biggest phone company.

Russia’s ruble declined for the first time in three days, falling 0.7 percent and bonds were little changed, with the five-year yield at 11.13 percent as the government prepared to sell 2020 and 2023 ruble bonds at auction.

Oil extended its biggest gain in two weeks after data from the industry-funded American Petroleum Institute Tuesday showed U.S. crude stockpiles fell for an eighth week, according to ForexLive. A drop of 2 million is forecast in a Bloomberg survey of analysts before government stockpile data Wednesday.

West Texas Intermediate crude climbed to $61.24 a barrel, adding to a 1 percent increase Tuesday. Brent rose 0.3 percent to $64.61.

Wheat fell by 0.5 percent after a separate Bloomberg survey before a June 30 report estimated U.S. reserves rose to a two- year high. Palm oil advanced 1.9 percent to 2,262 ringgit a metric ton, rebounding from an almost three-week low as the Malaysian currency fell against the dollar.