LONDON: European shares drifted higher in choppy trade on Friday as signs Greece would seek political consensus on a new aid package and dump a referendum helped cap some fears of an imminent default, although the outcome remains uncertain.
Banks, many of which have a significant exposure to the peripheral euro zone economies and have taken a hit on their balance sheets, were among the top gainers, while miners got some support from firmer metals prices that rose on hopes of an improvement in demand for raw materials.
The STOXX Europe 600 banking index rose 1 percent, while the basic resources index was up 1.2 percent. Royal Bank of Scotland rose 4.3 percent on its third-quarter profits and robust capital position.
However, Commerzbank fell 2.5 percent after it took a Greek impairment hit, forcing it to abandon its 2012 operating profit target.
The FTSEurofirst 300 index of top European shares was up 0.3 percent at 993.06 points at 0956 GMT, after climbing 1.9 percent in the previous session, on hopes the referendum, which could be the beginning of an exit for Greece from the euro zone, could be avoided.
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