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| Greece debt: FTSE 100 slides as worries over Greece persist | |
| (about 2 hours later) | |
| (Open): Shares in London and across Europe have continued to fall with Greece expected to default on a payment to the International Monetary Fund. | (Open): Shares in London and across Europe have continued to fall with Greece expected to default on a payment to the International Monetary Fund. |
| Greece's bailout deal ends on Tuesday, as it faces a deadline to repay a €1.6bn (£1.1bn) loan to the IMF. | Greece's bailout deal ends on Tuesday, as it faces a deadline to repay a €1.6bn (£1.1bn) loan to the IMF. |
| After falling nearly 2% on Monday, the FTSE 100 opened down a further 48.12 points, or 0.7%, at 6,572.36. | After falling nearly 2% on Monday, the FTSE 100 opened down a further 48.12 points, or 0.7%, at 6,572.36. |
| In Germany, the Dax index was down 0.86% in early trade, while in France the Cac 40 index dropped 1%. | In Germany, the Dax index was down 0.86% in early trade, while in France the Cac 40 index dropped 1%. |
| EU leaders have warned that a rejection of the creditors' proposals in referendum on Sunday would mean Greece leaving the eurozone - though Greek Prime Minister Alexis Tsipras says he does not want this to happen. | EU leaders have warned that a rejection of the creditors' proposals in referendum on Sunday would mean Greece leaving the eurozone - though Greek Prime Minister Alexis Tsipras says he does not want this to happen. |
| Talks between Greece and its creditors broke down last week, leading to Greek banks having to shut this week. | Talks between Greece and its creditors broke down last week, leading to Greek banks having to shut this week. |
| On the currency markets, the euro fell 0.6% against the dollar to $1.1173. The euro had fallen to a four-week low of $1.0955 on Monday before recovering to above the $1.12 mark. | On the currency markets, the euro fell 0.6% against the dollar to $1.1173. The euro had fallen to a four-week low of $1.0955 on Monday before recovering to above the $1.12 mark. |
| The pound rose 0.4% against the euro to €1.4050 but fell 0.1% against the dollar to $1.5719. | The pound rose 0.4% against the euro to €1.4050 but fell 0.1% against the dollar to $1.5719. |
| Among individual shares on the London market, Ocado fell nearly 5% following the online grocer's latest results. | Among individual shares on the London market, Ocado fell nearly 5% following the online grocer's latest results. |
| Ocado reported pre-tax profits of £7.2m for the half-year to 17 May, down slightly from £7.5m a year earlier, with gross sales up 15.7% to £511.9m. | Ocado reported pre-tax profits of £7.2m for the half-year to 17 May, down slightly from £7.5m a year earlier, with gross sales up 15.7% to £511.9m. |
| The company also said it hoped to sign a deal to sell its technology to overseas retailers by the end of the year. | The company also said it hoped to sign a deal to sell its technology to overseas retailers by the end of the year. |