Markets wobble as Spanish downgrade, eurozone fears bite

Spanish private equity has done surprisingly well in 2010

European investors were shaken Thursday as Moody's, a credit ratings agency, struck one notch off the sovereign rating for Spain on the eve of a European Council summit at which concern over the single currency zone's weaker peripheral members is set to dominate the agenda.

The euro declined 0.725% against the dollar by 17:13 in London on Thursday, to hit $1.3804. The single currency also lost 0.441% against the Swiss franc, falling to Sfr1.2871. Bourses across the continent trembled, with Spain

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