Europe close: Markets end broadly higher despite concerns over Greece

European indices ended the final session of the week higher across the board, with the exception of the FTSE 100, despite Greece hurtling ever closer towards Tuesday's repayment deadline.

Germany's Dax rose 0.34%, France's CAC 40 climbed 0.74%, while the benchmark Stoxx Europe 600 moved 0.41% higher.

Greece's latest proposal, revealing that there continued to be several important differences with the three lenders, was leaked, with both pensions and taxes continuing to be the main areas of tension.

"After a poor start, European markets gained on Friday despite no resolution to the crisis in Greece with positive rhetoric from officials including European Commission boss Jean-Claude Juncker helping to abate concerns," observed CMC Markets analyst Jasper Lawler.

"With relatively little movement in the euro and higher European stocks, market reaction to the June 30 deadline has been relatively sanguine. Part of this reflects optimism that a deal will be worked out in the 11th hour, but also simply that a missed IMF payment may not actually amount to much."

He added: "Also underlying it all, the European Central Bank is still doing QE which should put a floor under European risky assets including equities."

In London, the FTSE was dragged lower by ARM Holdings, which was hit by a downgrade from Berstein, and resources, which were affected by weaker commodity prices.

Supermarkets helped prevent a sharper decline on the index, thanks to encouraging news from Tesco.

In other company news, energy services outfit Wood Group declined after analysts at Beaufort Securities lowered their rating on the stock to ‘hold’, while sector peer Petrofac fell after being cut to ‘sell’ at Deutsche Bank.

Shares in German potash supplier K+S AG soared it was reported by Bloomberg, citing sources familiar with the matter, that the firm could reject a takeover bid.