European shares seen lower as EU summit hopes fade

October 20, 2011 07:29


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LONDON - European shares were seen dropping on Thursday, tracking falls on Wall Street and in Asia as hopes faded that a comprehensive plan to ease the euro zone debt crisis would be presented on Sunday at an EU summit.

Financial spreadbetters expected Britain's FTSE 100 to open down 54 to 65 points, or as much as 1.2 percent, Germany's DAX to open 62 to 77 points lower, or as much as 1.3 percent, and France's CAC-40 to open down 27 to 36 points, or as much as 1.1 percent.

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