Investing.com - European stocks were steady to higher on Wednesday, as investors hoped for a solution to the Greek debt crisis after euro zone officials gave the country until Thursday to present new proposals to secure a deal with creditors.
During European morning trade, the EURO STOXX 50 added 0.24%, France’s CAC 40 edged 0.16% higher, while Germany’s DAX 30 inched up 0.05%.
The euro zone had expected Greece to submit fresh plans on Tuesday after its voters rejected a deal in a referendum, but no new proposals were tabled.
European Council President Donald Tusk said this was now the "most critical moment in the history of the euro zone".
A meeting of all 28 members of the European Union was also scheduled for Sunday - a day after the new Greek proposals are expected to be discussed by euro zone finance ministers.
Financial stocks were mixed, as French lenders Societe Generale (PARIS:SOGN) and BNP Paribas (PARIS:BNPP) gained 0.10% and 0.57%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) tumbled 1.69% and 1.85%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) advanced 0.54% and 1.10% respectively, while BBVA (MADRID:BBVA) eased 0.02% and Banco Santander (MADRID:SAN) rose 0.28% in Spain.
Elsewhere, Sodexo (PARIS:EXHO) dropped 0.52% after the world’s second-largest catering company cut its full-year forecast for sales growth.
In London, FTSE 100 rose 0.34%, led by Barclays (LONDON:BARC), up 3.06%, after the U.K. lender said Chief Executive Officer Antony Jenkins will be stepping down as of July 17.
Other U.K. banks added to gains, as the Royal Bank of Scotland (LONDON:RBS) added 0.36% and Lloyds Banking (LONDON:LLOY) saw shares advance 0.85%. HSBC Holdings (LONDON:HSBA) underperformed on the other hand, with shares plummeting 2.36%.
Tesco (LONDON:TSCO) was also on the upside, as shares rallied 1.77% following reports Japan's Aeon Co., Ltd. (TOKYO:8267) is interested in buying the British retailer's Malaysian unit, valued at US$1.4 billion.
Meanwhile, mining stocks were broadly lower. Shares in Fresnillo (LONDON:FRES) dropped 0.76% and Bhp Billiton (LONDON:BLT) tumbled 1.30%, while Antofagasta (LONDON:ANTO) lost 1.86% and Rio Tinto (LONDON:RIO) plunged 2.01%.
In the U.S., equity markets pointed to a sharply lower open. The Dow Jones Industrial Average futures pointed to a 1.12% drop, S&P 500 futures signaled a 1.26% decline, while the Nasdaq 100 futures indicated a 1.29% loss.