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European markets fall on Spain worries

Thursday, October 11 08:27:10

European shares fell for the fourth consecutive session today, as persistent worries over Spain's debt problems and the prospects of weak company earnings hit the region's stock markets. The FTSEurofirst 300 index fell 0.1 percent to 1,089.17 points, while the euro zone Euro STOXX 50 index fell 0.5 percent to 2,445.20 points.

Persistent worries over Europe's sovereign debt crisis were highlighted by a Standard & Poor's downgrade late on Wednesday to the ratings of Spain, which is under increasing pressure to request a sovereign bailout. "It doesn't bode well for Spain. We're continuing to see weaker economic numbers and the euro zone issues are still there. The euro zone will dominate the month of October," said Manoj Ladwa, head of trading at London-based TJ Markets. ( C) Reuters