FTSE falls as Euro woes weigh on shares

The FTSE 100 was down in early trading as ongoing uncertainty about the Greek bailout hit markets and sent the euro lower against the dollar.

The FTSE 100 opened down 0.36% at 5,815 points, with the majority of shares in the red, led by retailer Next.

Shares fell as investors shunned risk assets amid the EU's continued push for a resolution on Greece's bailout.

The Financial Times reported European leaders are trying to finalise measures which ensure the Greek government delivers on a privatisation plan which could see it sell off up to €300bn of assets.

However, with no deal as yet decided, investors punished the euro, sending it down 0.5% against the dollar to $1.4019.

Shares were also hampered by moves further afield, after US markets closed down despite positive housing data.

The Dow Jones ended the session off 25 points at 12,356, while the Nikkei also dropped 54.29 points to 9,423 after Japan saw its exports plummet 12.5% in April compared to the previous year.

The fall widened the country's trade deficit to £3.5bn.