Europe stocks rise as S&P affirms Greece ratings

European stocks extended their gains in late trading on Tuesday after Standard & Poor's affirmed its credit ratings on Greece's debt.

At 1525 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1 percent at 1,062.15 points.

S&P said the Greek government's recent deficit reduction measures were supportive of the ratings, though it said the outlook was negative, suggesting a downgrade is still likely over the long term.

European banking stocks were among the top gainers, with BNP Paribas (BNPP.PA) up 2.4 percent and Deutsche Bank (DBKGn.DE) up 2.3 percent.

Read Full Article from Reuters

- Posted: 2010-03-16 10:56:36

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