European shares fall as Greece and Spain worries grow

By REUTERS
May 9, 2012 18:43

 
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LONDON - European shares provisionally ended at their lowest level in four months on Wednesday, as growing political uncertainty in Greece and concerns over the Spanish banking system hit markets.

The FTSEurofirst 300 index provisionally closed down 0.4 percent at 1,013.55 points, paring back some of its losses towards the end of the session but still at levels not seen since January.

The Spanish stock market was down by 2.8 percent. Britain's FTSE 100 index fell 0.5 percent, France's CAC-40 index shed 0.2 percent while Germany's DAX was up 0.5 percent.

"There are fears that what's happened in Greece will take place in Spain," said Adrian Redmond, senior trader at London-based trading firm JN Financial.

"People should put on a tin hat for the next few days - it's going to be choppy," he added.

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