European Stocks Rise as Greece Backs Down From Writedown Request
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European stocks climbed as concern that Greece would defy its creditors eased after the nation retreated from a plan to ask the euro area to write down debt.
The Stoxx Europe 600 Index rose 0.8 percent to 370.28 at the close of trading. The gauge pared gains of as much as 1.3 percent after a person familiar with the matter said Germany expects talks with Greece to drag on until the current round of aid runs out.