Greek stocks defy wider European rally Greek stocks fell for a second session, bucking a wider rally on Tuesday morning as investor risk appetite began to creep back into European markets. The Athens General index fell 2.2 per cent to 532.78 as investors focused on buying opportunities in other European markets that fell heavily last week, trimming back short positions. Elsewhere, European stocks extended Monday's fragile recovery and the FTSE Eurofirst 300 climbed 0.7 per cent to 981.48, as STMicroelectronics led gains on the index, with the shares climbing 6.1 per cent to €3.96. Weir Group, one of the most shorted companies on the London FTSE 100, rose 4.6 per cent to £15.72. Car companies Renault and Fiat made strong gains for a second day, both climbing 4.3 per cent to €33.38 and €3.80 respectively. Meanwhile, shares in Sonova lost the most across the FTSE Eurofirst 300 index after the Swiss hearing aid maker said a stronger Swiss franc dragged on its earnings for the year ended March 31. The shares fell 7 per cent to SFr86.75 after Sonova reported results that fell short of analysts" expectations. In Milan, the FTSE MIB index rallied 2 per cent to 13,277.34, with just one stock on the index trading in the red in morning trading. Shares in Italian lender Banco Popolare fell 2.1 per cent to €1.01. Its shares rose 19 per cent on Monday after several brokers raised their recommendations. In Madrid, the IBEX 35 rose 0.7 per cent to 6,566.9, while in Paris the CAC 40 index rose 0.9 per cent to 3,054.48. Germany's Xetra Dax climbed 0.8 per cent to 6,378.68.