(Bloomberg) -- European stocks fell from their highest level in more than seven years as Greek shares extended declines for a second day.
The Stoxx Europe 600 Index slipped 0.3 percent to 371.59 at 9:15 a.m. in London, paring its weekly advance to 1.2 percent. Shares added 0.1 percent on Thursday, erasing intraday losses, as a rise in energy companies outweighed a slide in Greek shares.
Greece’s ASE Index fell 1 percent today as Prime Minister Alexis Tsipras prepares to set out details of his plans to revive the Mediterranean nation’s economy. A diplomatic push this week seeking support for changes to its bailout ended with a rebuff from Germany, and the European Central Bank shut off a key avenue for Greek banks’ funding.
Tsipras has vowed to stick to his anti-bailout campaign pledges, despite their rejection by German Finance Minister Wolfgang Schaeuble. He will lay out his policy plans on
Sunday, in the opening speech of the three-day-long parliamentary debate leading up to a confidence vote to confirm his government.
Investors will also watch U.S. data for indications of the strength of the world’s largest economy. A jobs report Friday from the Labor Department is predicted to show nonfarm payrolls rose by 230,000 last month, while the unemployment rate remained at 5.6 percent. Standard & Poor’s 500 Index futures rose 0.1 percent.

Greek Banks

Among Greek stocks, Alpha Bank AE and National Bank of Greece SA led declines, falling more than 4 percent, even as a euro-area central-bank official familiar with the decision said that the ECB will allow the Greek central bank to provide as much as 59.5 billion euros ($68 billion) in emergency funding for the country’s lenders.
A gauge of travel-and-leisure stocks fell the most of the 19 industry groups on the Stoxx 600, as oil heads for a second weekly advance amid the highest trading volatility in almost six years. Ryanair Holdings Plc lost 1.2 percent and Air France-KLM Group also dropped 1.2 percent.
Energy stocks rose the most on the Stoxx 600. Statoil ASA contributed the most to the increase, rising 1.9 percent. Norway’s biggest energy company deepened cost cuts and halted dividend growth as it seeks to withstand a plunge in oil prices.
In Switzerland, Sunrise Communications AG advanced 5.6 percent on its trading debut. The country’s second-largest wireless operator raised 2 billion Swiss francs ($2.2 billion) in the biggest initial public offering on its stock exchange in eight years. The Swiss Market Index dropped 0.1 percent.