(MENAFN- AFP) Eurozone stock markets closed down Wednesday amid renewed doubts over whether Greece and its international creditors can quickly reach a deal needed by Athens to avoid a default and possible messy exit from the euro.
Frankfurt's DAX 30 ended the day down 0.62 percent at 11,471.26 points.
The CAC 40 in Paris fell 0.24 percent to 5,045.35 points, with telecoms stocks hammered after a buyout offer that would have consolidated the number of mobile operators in France from four to three was rejected.
Madrid's IBEX 35 ended down 0.82 percent, Milan's FTSE MIB closed 0.16 percent lower and in Greece the ATHEX Composite index finished with a 1.77 percent loss.
Outside the eurozone, London's benchmark FTSE 100 index of top companies ended up a slight 0.15 percent at 6,844.80 points.
The euro rose to $1.1185, from $1.1168 late on Tuesday in New York.
The jitters across European markets appeared driven by reports that the International Monetary Fund was not prepared to accept some of the new proposals Greece presented Monday, which relied more on tax hikes than the spending cuts and deep structural reforms that creditors have been seeking.
"IMF differences over the latest proposals from Athens dampened investor risk appetite that had been lifted by hopes of an imminent deal. Creditors then rejected the Greek proposals, adding to downside momentum in European stocks which is spreading across the pond," said Jasper Lawler, market analyst for CMC Markets.
Indeed, US stocks were mixed in mid-day trading after early losses echoed worries in Europe over possible Greek debt default.
Shortly before noon in New York, the Dow Jones Industrial Average was down 0.32 percent at 18,086.23 points, and the tech-rich Nasdaq Composite Index fell 0.15 percent to 5,152.23.
The broad-based S&P 500 rose 0.06 percent to 2,124.20.
- 'Next few days pivotal' -
With the coming days packed with consultations between Greece and its creditors, markets are likely to face a heady week, said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
"Equity markets continue to put their faith in a potential deal for Greece... The next few days will prove pivotal," O'Keeffe said.
Greek Prime Minister Alexis Tsipras will meet the leaders of Greece's creditors -- the EU's Jean-Claude Juncker, the European Central Bank's Mario Draghi and the IMF's Christine Lagarde -- in Brussels on Wednesday to discuss the latest proposals that Athens has made.
Eurozone finance ministers will also meet on the proposals ahead of an EU leaders summit on Thursday.
The Greek proposals were a last-ditch bid to unlock the final 7.2 billion euro tranche of its current bailout programme. If it fails to get the funds it will almost certainly be unable to make a 1.5 billion euro payment to the IMF at the end of the month.
In France shares in telecoms companies fell after the board of French group Bouygues late on Tuesday unanimously rejected the buyout offer made for its network by rival group Altice.
Shares in Bouygues, the parent company of Bouygues Telecom, ended the day down 9.26 percent to 34.50 euros.
Meanwhile shares in Altice's French telecoms unit, Numericable-SFR plunged 9.36 percent to finish at 49.36 euros.
Shares in market leader Orange fell by 3.31 percent to 14.455 euros and the stock in Iliad, parent company of low-cost operator Free, dropped by 8.52 percent to 208.75 euros.
Meanwhile shares in Dutch retail giant Ahold and its Belgian rival Delhaize fell on Wednesday after they officially announced their merger, creating one of the world's largest retail companies with a turnover of more than 54 billion euros ($61 billion).
Ahold shares reversed early gains to end 3.69 percent lower in Amsterdam at 18.255 euros, while shares in Delhaize finished down 7.66 percent to 81.29 euros in Brussels, a day after rising more than eight percent on rumours of the deal.
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