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European and US markets dip after Spanish bank deal

Markets in Europe and the US have dipped following an intial rise earlier in the day after a eurozone deal to bail out Spain's banks.

On Saturday, eurozone ministers agreed to lend Spain's banks up to 100bn euros ($125bn; £80bn).

The FTSE 100 in London rose 0.5%, the Dax in Frankfurt was up 1.4% and the Cac 40 in Paris was up 1.2%.

Spain's benchmark index, the Ibex, rose 1.7%. All had earlier made bigger gains.

The euro rose more than a cent against the US dollar before falling back.

Robert Peston reports.

  • 11 Jun 2012
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