European stock markets have recovered somewhat from the shock of a ‘no’ vote in Greece’s referendum at the weekend.<br /><br /> After two days of losses, stocks rebounded on Wednesday as Athens was given more time to formulate a new reform package to present to creditors.<br /><br /> But some analysts warned of severe consequences for investors if an final agreement isn’t reached quickly.<br /><br /> Capital markets strategist Oliver Roth said: “A Grexit hasn’t really been taken into consideration. There are a lot of optimists who still believe that the Europeans will build a bridge the Greeks will or can cross. But it must be clear that if there is a Grexit, the markets will feel considerable consequences. We can count on massive losses.”<br /><br /> Another analyst said there was relief among traders that the Greek question may well come to an end this weekend one way or another.<br /><br /> London, Frankfurt and Paris were up half a percent at lunchtime while Milan increased nearly 1 and half percent.<br /><br /> British bank Barclays and Sw
