European Markets Soar, But Slip Back Ahead of Greek Reform Package Proposals

European markets soar to new heights at the open, following Friday evening’s announcement of a deal to extend the Greek bailout for four months.
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European markets soar to new heights at the open, following Friday evening’s announcement of a deal to extend the Greek bailout for four months. But they retreat again as morning wears on, pending proposals on a revised reform package from Athens. Germany could still demand more austerity. British bank HSBC drops on poor results, but rival Lloyds is readying its first dividend since the financial crash. French nuclear operator Areva makes multibillion dollar loss, says planning a complete overhaul of business plan. Honda Motor Co. parks its chief executive after year of profit warnings and profit recalls.