The FTSE suffered a sharp drop in afternoon trading to close more than 3% in the red as concerns over EU debt and another Greece bomb attack rattled markets.
The FTSE finished on 5262, down 3.14% or 170 points, after a volatile afternoon trading session played out against the background of a second bomb attack in Greece. Fears now abound Greece is on the verge of serious and widespread social unrest. The political situation in the UK also played its part in the FTSE's descent into the red. Shares slipped as investors feared austerity measures to be put in place by the UK government, coupled with an expected hike in VAT, could stall the recovery. London's leading shares were sliding throughout the day's trading. By mid-day, it was down 1.73...
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