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Markets recoup ground but European fears remain

Reported by SeattlePI.com on Wednesday, 25 July 2012 (on July 25, 2012)

Markets recoup ground but European fears remain
Associated Press
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. ext

Updated 03:12 a.m., Wednesday, July 25, 2012

LONDON (AP) — Financial markets recovered their poise Wednesday but a run of disappointing economic data in Europe and worse-than-expected earnings from Apple kept the recovery in check. The pressure on the country's borrowing rates also eased, certainly in comparison to the hefty increases of the past few days. Britain's FTSE 100 index of leading British shares was 0.2 percent higher at 5,508 even though official figures showed the country's economy shrinking by a greater than anticipated quarterly rate of 0.7 percent in the second quarter of the year. Wednesday's release of the closely-watched Ifo survey of German business sentiment added to concerns over the state of the German economy. Oil prices were steady with benchmark crude for September delivery up 5 cents at $88.55 a barrel in electronic trading on the New York Mercantile Exchange.

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