Europe shares extend losses on euro-zone debt woes

LONDON, May 14 (BestGrowthStock) – European shares extended their
sharp losses on Friday afternoon, led by the banking sector on
worries that growth would be undermined by the tough austerity
measures in the euro zone peripheral economies.

By 1345 GMT, the pan-European FTSEurofirst 300 (.FTEU3: )
index of top shares was down 2.5 percent at 1,023.58 points and
had earlier hit a low of 1,020.18.
Southern European indexes were taking a beating, with
Spain’s IBEX (.IBEX: ) sinking 5.3 percent, Portugal’s PSI 20
(.PSI20: ) down 3.7 percent and Italy’s MIB (.FTMIB: ) down 5
percent.

Banco Santander (SAN.MC: ), HSBC (HSBA.L: ), BNP Paribas
(BNPP.PA: ) and Barclays (BARC.L: ) fell 2.2 to 7 percent.

Stock Analysis

(Reporting by Joanne Frearson)

Europe shares extend losses on euro-zone debt woes