Stock markets end turbulent week with more losses

Major European stock share markets closed down on Friday, ending another turbulent week.

Continued threat about a slowdown in the global economy and high levels of debt burden in the eurozone had driven indexes down for much of the day.

At one point, European markets were rapidly lower, with down of more than 3% for some leading indexes.

At the end, London's FTSE 100 was lower 1%, Paris's Cac was lower 1.9% and Frankfurt's Dax was fall 2.2%.

The losses leave the 100 index down 13% on the month, with the French and German markets worse hit, losing 18.3% and 24% respectively.

In New York, share market was down 0.2%. Alan Brown, Schroders' group chief investment officer, said: "It is the end of a really torrid week."

Investors are worried global growth is slowing, and that major economies may be heading back into recession.

In addition, the Greek finance minister tried to reassure investors that his country's new bailout deal was not in doubt.

Evangelos Venizelos' comments came after four countries demanded collateral in exchange for their contributions to the 109bn-euro (£95bn) loan, after Finland deal with the Greek government.

Austria, the Netherlands, Slovenia and Slovakia have all said they want to do the same, which could complicate efforts to finalise the rescue deal.