European Markets Steady as Heads of State Head to Brussels for Greek Bailout Talks

European markets paused for breath as the heads of the 19 euro-zone countries headed to Brussels for talks that could determine if Greece becomes the first country to be ejected from the common currency. Major indices in London, Frankfurt and Paris all hovered near their previous days close, seemingly uncertain what to make of conflicting signals from the governments of France and Germany, which said they were determined to keep Greece in the euro but warned that time was running out. In Germany, shares in broadcaster ProSiebenSat.1 Media AG and Axel Springer SE climbed on reports that they were in talks that could lead to a €15 billion ($16.5 billion) merger. Springer attempted to buy ProSiebenSat a decade ago before antitrust regulators blocked its bid. In China, a handful of blue chip stocks including Bank of China Ltd. climbed their maximum daily limit of 10%, parting ways with falling smaller company stocks, on reports that Chinese brokers had established a $20.6 billion fund to support exchange traded funds investing in China’s biggest companies.