Investing.com - Stock markets in Europe pared earlier gains on Tuesday afternoon, as European finance ministers in Brussels pressed Greece to pledge further austerity measures to combat its gaping budget deficit.
France’s CAC 40 was up 0.05%; Germany's DAX was up 0.11%; Britain's FTSE 100 was up 0.47%; and the EURO STOXX 50 was up 0.03%.
Earlier Tuesday, Sweden's finance minister said Greece's deficit-reduction plan was simply "not enough."
"This is quite an urgent situation," Reuters quoted Anders Borg as saying.
The minister, whose country is part of the 27-country European Union but does not use the euro, reportedly added: "What we have seen so far is not enough. We need more steps when it comes to taxes and ... expenditure, if they want to build credibility in the market."
The outlook for U.S. markets, meanwhile, was rosy as Dow Jones Industrial Average futures indicated a rise of 0.61%, S&P 500 futures pointed to an increase of 0.78% and Nasdaq 100 futures indicated a rise of 0.56%.
Also Tuesday, data from the ZEW think-tank showed that German investor confidence fell less than forecast in February, signaling that the recovery of the euro zone's largest economy was still fragile.