European shares fall on Greece bailout concerns

LONDON, May 3 (BestGrowthStock) – European shares fell in thin trade
on Monday morning, with banks slipping on concerns a massive bailout
package for Greece may face political problems and on doubts
about whether Greece can sustain the tough austerity measures.

At 0704 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was down 0.3 percent at 1,058.91 points after
falling 0.7 percent in the previous session.

Financial stocks were among the top losers, with STOXX
Europe 600 banking index (.SX7P: ) falling 0.4 percent. BNP
Paribas (BNPP.PA: ), Natixis (CNAT.PA: ) and Credit Suisse (CSGN.VX: )
were down 0.5 to 1 percent.

“The fate of Greece is in the hands of the people of Greece.
They have to agree as well,” said Koen De Leus, economist at KBC
Securities, in Brussels.

“We have had a great rally for more than a year and it’s
normal that there is going to be some push back. Investors are
looking for excuses to take profits.”

European finance ministers triggered a record 110 billion
euro ($146.5 billion) bailout for Greece on Sunday after Athens
committed itself to years of painful austerity. [ID:nLDE64201N]

UK and Japanese markets are closed for a public holiday.

StockĀ  Market
(Reporting by Atul Prakash)

European shares fall on Greece bailout concerns