European shares closed down

The pan-European FTSEurofirst 300 .FTEU3 index closed down 2.8 per cent, the most since mid-October. The index had fallen as much as 3.2 per cent. Greek banks and the stock market were closed on Monday and were expected to remain closed until after the July 5 referendum. The Global X FTSE Greece exchange-traded fund (GREK.K), which tracks the Athens stock market, fell 20 per cent. Euro zone banks .SX7E fell 5.8 per cent. The euro fell overnight to as low as $1.0953, off 1.9 per cent versus the US dollar, but reversed near the mid-session in New York to trade up 0.6 per cent at $1.1232. The 10-year Treasury note US10YT=RR rose 1-9/32 in price to yield 2.3296 per cent, after earlier hitting 2.292 per cent, the lowest in a week. Spot gold XAU= pared a gain of more than 1 per cent on the day to trade up 0.4 per cent near $1,178 an ounce. Brent crude LCOc1 was down 2 per cent at $62 a barrel and US crude CLc1 fell 2.3 per cent $58.24 a barrel, according to Reuters.