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FTSE blog: FTSE down 1% at close


The French Cac 40 was down 1.9 per cent whcile the German Dax was down 2.3 per cent.

15.53: The FTSE 100 has regained some its early losses but is still down 1.5 per cent today. The blue-chip index currently stands at 5055.74.

14.46: The FTSE is currently down 1.87 per cent to stand at 5032.79, while the Cac 40 and the Dax are down 2.4 and 2.9 per cent respectively.

11.58am: The FTSE is down by over 1.6 per cent this morning as the fallout from Greece continues. The French Cac 40 and the German Dax are both down by more than 2 per cent from their opening mark.

10.42am: The FTSE 100 is down by almost 2 per cent as concerns around Greece continue to grow after it announced a projected deficit of 8.5 per cent GDP for 2011.

The French Cac 40 and the German Dax are both down by more than 2 per cent this morning.

9.32am: The FTSE 100 has fallen by 2.5 per cent in early trades amid news that Greece is expected to miss its targets to cut its deficit.

At 9.32am, the blue-chip index was down 2.41 per cent to stand at 5004.90. The FTSE 100 had briefly fallen below the 5,000 barrier in early trades.

Greece has announced a projected deficit of about 8.5 per cent of GDP for 2011. The figure is down from 10.5 per cent in 2010 but short of the 7.6 per cent set by the EU and the IMF.

Shares across Europe have also fallen with the German Dax and the French Cac 40 down 3.1 and 2.7 per cent respectively. In Asia, Hong Kong’s Hang Seng index fell 4.4 per cent, while the Nikkei 225 in Japan was down almost 1.8 per cent.

Banking stocks were once again the leading contributors to the fall in the FTSE 100, with Barclays and Royal Bank of Scotland both seeing their shares fall by more than 5 per cent.


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