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European shares extend losses, led by financials

Wed Jul 8, 2009 11:19am EDT

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LONDON, July 8 (Reuters) - European shares extended losses late on Wednesday afternoon, led by financials, oil producers and auto makers, as U.S. stocks turned negative.

By 1511 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 1 percent at 818.07 points, and had hit a low for the day of 817.79.

Financials took the most points off the index, with HSBC (HSBA.L), BNP Paribas (BNPP.PA), KBC Groep (KBC.BR) and UBS (UBSN.VX) off 2.3-6.9 percent.

Oil producers and carmakers were other standout losers. BP (BP.L) lost 0.8 percent and Royal Dutch Shell (RDSa.AS) slipped 0.6 percent.

Among car makers, Renault (RENA.PA) dropped nearly 7 percent and Peugeot (PEUP.PA) shed 4.9 percent.

In the United States, the Dow Jones industrial average .DJI, the S&P 500 .SPX and the Nasdaq Composite .IXIC were down 0.1-0.4 percent. (Reporting by Dominic Lau)



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