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European shares down on Greece worries | |
(about 4 hours later) | |
(Noon): Shares in London and other European markets fell on worries over whether Greece's parliament would back the latest eurozone bailout deal. | |
In lunchtime trade, the FTSE 100 was down 20.01 points at 6,717.94. | |
France's Cac 40 fell 6.51 points to 4,991.59 while Germany's Dax was 51.75 points lower at 11,432.63. | |
Bank of England governor Mark Carney said on Tuesday that the proposed eurozone deal would require "Herculean efforts from all sides". | |
Speaking to the UK Parliament's Treasury Committee, he also said that the point at which UK interest rates may begin to rise was "moving closer". | |
His comments boosted the value of sterling. The pound rose 0.6% against the dollar to $1.5576, and was 0.4% higher against the euro at €1.4132. | |
However, the prospect of higher interest rates hit shares in housebuilders. Taylor Wimpey fell 3.1% and Barratt Developments dropped 2.5%. | |
Top gainer on the FTSE 100 was Sky, which rose 3.2% after Deutsche Bank upgraded its rating on the stock to "buy". | |
Outside the FTSE 100, shares in newspaper publisher Johnston Press plunged by 16% after it said full-year profits would be below expectations following a fall in revenues. | |