European stocks climbed for a third day, as an increase in health-care shares and Greek companies outweighed a drop in energy producers.
The Stoxx Europe 600 Index rose 0.5 percent to 372.1 at the close of trading, reversing losses of as much as 0.3 percent. It extended gains earlier after a report showed U.S. service industries expanded at a faster pace than forecast. Drugmakers were among the biggest contributors to the advance, with Roche Holding AG and Novartis AG up more than 2 percent, while oil-and-gas shares fell 0.9 percent as a group.
Greece™s ASE Index climbed 0.9 percent, after rising 2.8 percent, and reversing losses of as much as 2.6 percent. Prime Minister Alexis Tsipras and his finance minister are visiting European leaders to negotiate new terms on repaying Greece™s debt. German Chancellor Angela Merkel indicated that a diplomatic offensive to ease bailout-aid requirements is failing to win over converts.
Greek lenders rallied, with Piraeus Bank SA and Eurobank Ergasias SA jumping at least 11 percent. Finance Minister Yanis Varoufakis said he had œvery fruitful talks over the European Central Bank™s support of the Greek banking system after he met with President Mario Draghi in Frankfurt.
Source : Bloomberg