Shares fall as Greece says it will miss deficit targets

October 3, 2011 06:07

Share indexes in London, Frankfurt and London opened between 2.5% and 3.5% lower. Asian stocks also fell. – BBC News



Hong Kong’s main index fell 5%, and Australia closed 2.7% down. The euro was 1.3328 against the dollar, an eight-month low.

Franco-Belgium bank Dexia fell as much as 14% after ratings agency Moody’s said it could downgrade the firm because of its exposure to Greece.

France’s Societe Generale was down 7.4%, BNP Paribas fell 6.7% and Credit Agricole dropped 5.8%.

In Germany, Commerzbank fell 6%, while Deutsche Bank was 3.9% lower.

In the UK, shares in Barclays were down 6% and Royal Bank of Scotland fell by 5%


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