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Greece worries cause FTSE 100 to fall by nearly 1% | |
(about 3 hours later) | |
(Close): London's benchmark FTSE 100 index of leading shares fell 0.8% to end the day at 6,804.60. But the fall was not as severe as those in the French and German markets. | |
Investors were spooked by Greece's decision to delay its €300m debt repayment to the International Monetary Fund. | |
Fears are growing that the country may default and leave the eurozone. | |
Retailer Marks & Spencer was the biggest faller, down 3.2%. | |
On Thursday, the firm announced that it had paid bonuses to its senior managers for meeting profit targets, but that its international business performance had been "disappointing". | |
The biggest riser was Royal Bank of Scotland, up 1.48%, after speculation that the government might sell part of its 80% stake in the bank as early as September, to avoid a clash with the full privatisation of Lloyds Banking Group next March, banking and political sources said. | |
Bailing out the debt-laden RBS cost British taxpayers £45bn ($69bn). | |
On the currency markets, the pound fell 0.64% against the dollar to $1.5266, but rose 0.53% against the euro to €1.3742. |