European shares close modestly higher, giving up most of substantial early gains when the U.S....

|By:, SA News Editor

European shares close modestly higher, giving up most of substantial early gains when the U.S. couldn't confirm the rally. The Greek debt buyback moves forward and the EU is set to cut a check to Spain to assist with that country's bank recapitalizations. Stoxx 50 +0.2%, led by Germany +0.4%. Spain -0.7%. The euro +0.6% to $1.3061.