LONDON (TheDeal) -- European stock indices rose on Tuesday after Greece offered concessions to its international creditors at an emergency summit, stoking hopes of a debt deal within the next two days.
Eurozone leaders late on Monday welcomed the new proposals -- which envisage raising revenue from taxes on businesses and on wealthy individuals -- as forming the basis of talks about a deal to unlock €7.2 billion ($8.1 billion) of bailout funding and enable Greece to pay back a €1.5 billion International Monetary Fund loan by the end of the month.
Meanwhile, Markit Economics' eurozone purchasing managers' indices for June came in better than expected, with the services, manufacturing and composite indices all moving further into the expansion territory denoted by any reading above the 50 threshold. France turned in its best quarterly performance since the third quarter of 2011, the research group said.
From the U.S., all eyes will be on May durable goods figures, which are out at 8.30 a.m. in Washington.
The Athens Composite Index jumped 3.75% to 777.27. In Frankfurt, the DAX rose 0.99% to 11,574.22, and in Paris, the CAC 40 was up 1.0% at 5,048.38. In London, the FTSE 100 crept up 0.12% to 6,834.14
Greene King (GRKGF) rose more than 2% as it closed its £774 million ($1.2 billion) acquisition of Spirit Pub after receiving competition clearance on Monday. The merged entity has more than 3,000 pubs, and analysts expect cost savings from the union.