London - Expectations that Greece would reach an agreement with its international lenders drove a pan-European stock index to a seven-year high on Wednesday, despite German resistance to the deal Greece wants.
Greece will submit a request to the eurozone on Thursday to extend a loan agreement for up to six months. EU paymaster Germany says Athens must stick to the terms of its existing bailout.
Nevertheless, traders said Greece was buying itself time, and Greece's benchmark ATG equity index climbed 1.1% while the country's banking index rose 5.7%.