On Wednesday European stocks fell for the first time in three days amid concern that divisions between officials may delay a second rescue plan for Greece. US index futures and Asian shares slid.

National Bank of Greece SA and EFG Eurobank Ergasias SA tumbled more than 3% in Athens. BNP Paribas SA, Societe Generale SA and Credit Agricole SA, France’s biggest lenders, declined after Moody’s Investors Service placed their credit ratings on review to scrutinize their holdings of Greek debt. Hennes & Mauritz AB fell 3.2% after Europe’s second- largest clothing retailer reported sales figures.

An emergency session of finance ministers in Brussels late on Tuesday failed to reconcile a German-led push for bondholders to shoulder part of the cost of a new Greek aid package with European Central Bank warnings backed by France that the move might constitute the euro area’s first sovereign default.

With consensus elusive before the target date of a leaders’ summit late next week, finance ministers agreed to convene again on 19 June, a day earlier than planned. Talks may drag on into July, Luxembourg’s Finance Minister Luc Frieden said.

The cost of living in the US probably rose in May at the slowest pace in six months as fuel costs waned, economists said before a report later in the day. The consumer-price index increased 0.1% after a 0.4% gain in April. Separate data from the Federal Reserve may show industrial production rose 0.2% in May after stalling the prior month, economists said.

Asian stocks swung between gains and losses as a better-than-estimated US retail sales report countered speculation that Europe’s sovereign debt crisis will take longer to resolve. Japan’s Nikkei 225 Stock Average gained 0.3%.

This article was compiled by Valletta Fund Management Limited, a member of the BOV Group. Valletta Fund Management,

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