Europe: Shares tread water on Greek uncertainty; Syngenta rises

[LONDON] European shares were little changed at the open on Friday, keeping within their recent range, as investors awaited developments in Greek debt talks amid mixed signals from the parties involved.

Mergers and acquisition activity boosted Syngenta, which was building up defenses for a possible higher bid from Monsanto, according to a Bloomberg report. Syngenta shares were up 2.3 per cent.

The FTSEurofirst 300 was flat at 1,615.96 points at 0803 GMT. The index was down 0.2 per cent for the week so far, which has been marked by uncertainty surrounding Greece's negotiations with its international lenders.

Greece's government intends to reach an agreement on a cash-for-reforms deal by Sunday, its spokesman said on Thursday, even as euro zone officials suggested a deal was far from imminent and the head of the International Monetary Fund was quoted as saying the country could fall out of the bloc.

REUTERS