Europe: Shares fall after ECB decision on Greek debt

[PARIS] European stocks fell early on Thursday after the European Central Bank abruptly cancelled its acceptance of Greek bonds in return for funding, shifting the burden onto the country's central bank.

At 0802 GMT, the FTSEurofirst 300 index of top European shares was down 0.5 per cent at 1,479.92 points.

The ECB move, which required the support of a majority of central bank chiefs across the eurozone, shows widespread dismay with the new Greek government's plans not only in Frankfurt but across the 19-country bloc.

Shares in French drugs firm Sanofi bucked the trend, rising 1.8 per cent after saying it will name a new chief executive in the coming weeks, and predicted that euro weakness could boost profits this year.

REUTERS