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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/ftse-down-amid-eurozone-debt-fears.jpg"><img class="alignnone size-full" title="The FTSE 100 Index closed 79.7 points lower at 5976.7" src="http://londonglossy.com/wp-content/uploads/2011/01/min-ftse-down-amid-eurozone-debt-fears.jpg" alt="The FTSE 100 Index closed 79.7 points lower at 5976.7"/></a></p>
<p>Speculation over plans to tackle eurozone debt and disappointing earnings from US investment bank Goldman Sachs have led to losses on the London market.</p>
<p>The FTSE 100 Index closed 79.7 points lower at 5976.7 after Goldman reported a 53% plunge in fourth-quarter profits due to sharp declines in its investment banking businesses.</p>
<p>Confidence in the banking sector was shaken further by reports out of Germany that Greece&#8217;s debt may have to be restructured. The German government was reported to be considering a plan that would allow the Greek government to retire some of its debt early, using subsidised credits from the EU bailout fund.</p>
<p>Barclays, which has also been troubled by a fine and compensation order totalling £67 million on Tuesday from the Financial Services Authority, dropped more than 3% or 11.6p at 296.1p.</p>
<p>But sentiment was weak across the Footsie financials as HSBC lost 5.2p at 704.1p, Lloyds dropped 1.6p to 66.2p and investment bank Investec eased 12.5p at 513p.</p>
<p>The pound continued to make gains against the dollar, up at 1.59, as sterling continued to feel the effect of Tuesday&#8217;s high-inflation report, but was down against the euro at 1.18.</p>
<p>Financial Times publisher Pearson headed gains on London&#8217;s FTSE 100 after it raised guidance for a key earnings target in an upbeat trading statement. The group&#8217;s shares rose 45p to 1051p, or 4%.</p>
<p>But the focus was largely outside the top flight after the latest flurry of updates.</p>
<p>While bookmakers William Hill and Ladbrokes raced 7% and 2% higher, Comet parent Kesa plummeted and embattled music and book group HMV suffered hefty falls as Christmas trading woes took their toll.</p>
<p>William Hill shares rose 12.3p to 189p as it said the weather conditions that decimated sporting fixtures in the run-up to Christmas may not have been as damaging to its business as many feared.</p>
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