Banks lead sell-off as Greece fear factor hits markets

Banking shares plunged this morning, leading markets lower, following news Greek prime minster George Papandreou has called a referendum over last week's eurozone rescue deal.

French bank Credit Agricole dropped 10.15% to €5.10 while Société Générale plunged 10% to €18.97. In the UK, Barclays was down 7.48% to 180.7p while Royal Bank of Scotland fell 6.5% to 22.65p and Lloyds fell 4.5% to 31p per share. London's FTSE 100 index continued to fall after initially shedding 100 points on opening to 5,338. By 9am it had fallen to 5,406. The German Dax and the French Cac also lost ground, with the Dax seeing a near 3.8% drop to 5,905 and the Cac 40 falling 3.36% to 3,133. The decision over whether Greece signs up to the eurozone rescue deal - which will see ...