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FTSE 100 records worst monthly fall in three years

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The FTSE 100 finished June recording the worst monthly performance in more than three years as concerns over the Greek debt crisis gripped markets.

The blue chip index ended the month down 6.6 per cent, marking the sharpest decline since May 2012. However it opened today 0.7 per cent higher at 6,564.

The crisis engulfing Greece caused the index to drop 3.5 per cent between last Friday and Tuesday 30 June, when the Greek government called a referendum on creditors’ bailout demands.

The fall follows on from the blue-chip index charging threw the 7,000 mark to a new record high earlier this year.

Hargreaves Lansdown senior analyst Laith Khalaf says: “Investors would be well-advised to keep their heads, particularly when all about them are losing theirs. While the Greek debt negotiations will continue to affect stock prices and create headlines, it’s important to keep some perspective.

”The UK stock market is still only marginally lower than the start of the year, and with such low yields on cash and bonds, it still represents an attractive home for long term money. Indeed when there is weakness in stock markets it’s usually the time to buy in, not sell out.”

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