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Weak China data weighs on stocks, euro

Leah Schnurr, Reuters
August 10, 2012
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Global shares lost momentum on Friday, falling for the first time in five days after weak Chinese trade data, though declines were limited by expectations policymakers could act to shore up the world's economies.
 
Stock markets' recent rally has been underpinned by comments by ECB President Mario Draghi two weeks ago that the central bank was "ready to do whatever it takes to preserve the euro," raising hopes of heavy bond buying to aid Spain and Italy.
 
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