Sophia Ziaee of City Index (http://www.cityindex.co.uk/) presents the award-winning spread betting provider's daily summary of news from the trading floor, including news of:
- European shares fell in early trade this morning, extending losses into a third session, Banks have been the hardest hit by escalating worries a Greek default will spark a banking crisis in Europe.
- Britain's FTSE 100 fell sharply this morning on opening and is already trading down 2 PCT, Germany's DAX has fallen 2.5 PCT, France's CAC 40 falls 2.5 PCT.
- Royal Bank of Scotland was the top faller among the banks on the FTSE 100, down 7.1 percent.
- Franco-Belgian bank Dexia has fallen 23 percent, after dropping more than 10 percent yesterday.
- The flight to safe havens has pushed the dollar to a near-nine month high against a basket of currencies. The euro has fallen to $1.3145 - its weakest since January.
- And gold is up about 1%.
- So all eyes will be on the opening of Wall Street this afternoon, as US stocks are set to open down after record falls yesterday.
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