Paris--European markets wobbled Tuesday as investors evaluated possible progress towards a deal to prevent Greece from defaulting.
In afternoon trading the CAC 40 in Paris shed 0.40 percent to 5,004.99 points, while in Frankfurt the DAX 30 fell 1.00 percent to 11,321.68 points.
Outside the eurozone, London's benchmark FTSE 100 index slid 0.19 percent to 6,940.62 points.
But the euro shot up to 1.1129 from 1.0924 late in New York on Monday.
"Ongoing Greek talks remain one obvious risk event this week especially as the country needs to pay 300 million euros to the IMF on Friday," said Craig Erlam, senior market analyst at Oanda foreign exchange trading company.
"There are some small signs of progress being made although that is doing little to settle the markets, with most European equity indices in the red ..." he added.
Greece said Tuesday it has made "difficult concessions" in a "realistic" reform plan it has put to its creditors as a critical repayment on its massive debt looms.
That came after high-level talks late Monday in Berlin between German Chancellor Angela Merkel, French President Francois Hollande, ECB chief Mario Draghi, European Commission President Jean-Claude Juncker and IMF chief Christine Lagarde.
According to German daily Die Welt the aim was to come up with "a final proposal" to present to Athens. There are fears that Athens does not have the necessary funds and will default, possibly setting off a chain of events that could end with a messy exit from the euro.
Prime Minister Alexis Tsipras said his administration would implement a series of privatisations that it had previously opposed, and reform the value added tax system as well as the pension system -- issues that had been holding up a deal.
AFP
