European and US stock markets have suffered more large falls, led by steep declines in banking shares.
In nervous trading, the focus turned to France, where the French government denied it would follow the US and lose its top-grade AAA credit rating.
Societe Generale bank, whose shares fell up to 20%, was also forced to deny it was under financial pressure.
France's Cac share index ended down 5.5%. The UK's FTSE lost 3%, and Wall Street's Dow Jones had fallen 3.3%.
The FTSE fell by 158 points to 5,007, taking £41bn off the value of the index. It has now lost almost 15% in the last nine trading sessions.
Italy's FTSE MIB was down 6.7%.
Shares in Societe Generale ended 14.7% lower.
UK banking shares were also hit, with Barclays down 8.7%, Royal Bank of Scotland 7.3%, and HSBC 5.3%.
"The banks have all got exposure of some degree or another to sovereign debts," said David Buik, of BGC Partners.
"And none of the banks are going to get away scot-free. There are going to be writedowns."
BBC
More:
hostgator coupon 2011
No comments:
Post a Comment