3:20 PM Frankfurt European Investment Bank signed 70 million loan deal with Ascopiave. GDF Suez plans to raise as much as 600 million from a stake sell. Spirent Communications expects weak revenue in the second quarter but new orders jumped 10%.
In London trading, FTSE 100 index slipped 1.7% or 106.06 to 6,198 and in Frankfurt the DAX index decreased 1.6% or 129.59 to 7,781.
In Paris, CAC 40 index dropped 1.6% or 58.39 to 3,684.
slumped 2.5% to 1.31 after the European Investment Bank signed 70 million loan deal with Italy based energy utilities to improve and expand gas distribution networks in the Veneto and Lombardy regions.
slumped 2.3% to 276.43 pence and Switzerland based Credit Suisse Group AG
dropped 3.8% to Sfr24.70 and Germany based Deutsche Bank AG
declined 3.2% to 30.90. The credit ratings agency Standard & Poors lowered long-term ratings of Barclays and Deutsche Bank by one notch to 'A' from 'A+ and Credit Suisse rating by one notch to A-.
GDF Suez SA
slid 0.5% to 15 after the France based natural gas and electricity supplier plans to raise as much as 600 million or $784 million by selling stakes in some of its European wind and solar energy businesses.
HSBC Holdings Plc
declined 2.5% to 677.60 pence after the UK based bank received approval from U.S. District Judge for settlement of $1.92 billion with federal and state regulators.
Spirent Communications Plc
plummeted 6.3% to 125.90 pence after the UK based communications testing equipment maker said revenue were weaker than anticipated in the second quarter and are estimated to fall $26 million to $92.7 million.
New orders for the second quarter jumped 10% to $119.0 million from last year.