European shares edged lower in early trading on Monday, with lingering concerns over Greece’s debt situation prompting investors to trade cautiously at the start of a new week.
German Finance Minister Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default, drawing a parallel with the secrecy of German reunification plans in 1989.
“There is still no deal on Greece, and that’s a concern for many investors,» said Clairinvest fund manager Ion-Marc Valahu.
Euro zone finance ministers warned Greece on Friday that its leftist government will get no more aid until it agrees a complete reform plan.
The pan-European FTSEurofirst 300 index was down 0.2 percent at 1,623.43 points by 0726 GMT.
On the positive side, Volkswagen gained 4 percent after the resignation of its chairman and HSBC rose 3.2 percent on a report that Europe’s biggest bank was weighing plans to spin off its British retail bank.