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At 0804 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 954.36 points. "The risk of contagion grows as European political leaders procrastinate on further austerity measures to support Europe bringing about uncertainty across the globe," LCG trader Nam Truong said. UBS was down 1.3 percent and Societe Generale down 0.7 percent.