Europe Markets

Europe closes mixed, with no signs of Greece progress

Europe closes mixed; Greece in focus

European equities closed mixed on Thursday after wobbling in earlier trade, as hopes for a deal between Greece and its creditors seemed to fade.

The pan-European Stoxx 600 index closed around 0.2 percent down, reversing small gains made around midday.

The benchmark FTSE 100 index closed down roughly 0.5 percent, underperforming the French CAC 40 and the German DAX, which both provisionally ended flat.

Meanwhile, the Italian MIB outperformed, closing unofficially up 0.9 percent.

Hopes of a deal between Greece and its international bailout supervisors faded on Thursday, when a brief Eurogroup meeting of finance ministers ended without any signs of an agreement.

Greece has a 1.6 billion euro ($1.8 billion) debt due to the International Monetary Fund on June 30 that it's unlikely to be met if no deal is reached. This raises the specter of a Greek debt default and potential Greek exit from the euro.

Greek crisis: Timeline

In individual stock news, shares of Vivendi closed second-top in the French CAC 40 index, up around 1.8 percent. This was after the company's chief executive, Arnaud de Puyfontaine, said he would not rule out increasing the company's stake in Telecom Italia further, in an interview with Corriere della Sera.

Meanwhile, shares of Tesco outperformed the FTSE 100, closing around 0.9 percent higher after a Korean newspaper reported that there were up to eight bidders for the retailer's South Korean unit.

However, H&M shares closed around 3.2 percent lower after the retailer posted second-quarter pretax profit roughly in line with expectations of analysts polled by Reuters.

H&M being squeezed by euro: Analyst

A European Union summit was ongoing at the time of the market close, at which Greece was expected to be the key topic. Also up for discussion was Europe's migration crisis, as well as U.K. Prime Minister David Cameron's plans to renegotiate Britain's relationship with the rest of the union.

U.S. equities traded slightly higher on Thursday, as investors eyed ongoing events with Greece and Wall Street healthcare stocks jumped after a ruling about Obamacare.

Follow us on Twitter: @CNBCWorld