LONDON, Sept 15 (Reuters) - European shares extended losses to fall sharply lower on Monday, as investors dumped financial stocks after Wall Street firm Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) (LHMH.F: Quote, Profile, Research, Stock Buzz) filed for bankruptcy protection.
By 0822 GMT, the FTSEurofirst 300 index of top European shares was down 3.7 percent at 1,119.38 points. The benchmark closed 1.9 percent higher on Friday.
Lehman filed for bankruptcy protection, after trying to finance too many risky assets with too little capital, making it the largest and highest-profile casualty of the global credit crisis. Its shares (LHMH.F: Quote, Profile, Research, Stock Buzz) plummeted 80 percent in Frankfurt.
Banks were the biggest weighted losers on the index, with BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz), Credit Agricole (CAGR.PA: Quote, Profile, Research, Stock Buzz), Dexia (DEXI.BR: Quote, Profile, Research, Stock Buzz), Fortis (FOR.BR: Quote, Profile, Research, Stock Buzz) and Societe Generale (SOGN.PA: Quote, Profile, Research, Stock Buzz) down between 5.5 and 8.7 percent. (Reporting by Atul Prakash)
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