Europe Stocks Fall With Euro on Spain Downgrade; Aussie Gains
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Most European stocks fell, the euro weakened and German bonds advanced after Standard & Poor’s downgraded Spain’s debt rating. Australia’s dollar rose on better-than-expected jobs data.
The Stoxx Europe 600 Index slid 0.1 percent as of 8:02 a.m. in London, while S&P 500 Index futures were little changed. The yield on German 10-year bunds dropped to a one-week low of 1.44 percent and Italian bonds fell before a debt auction. The euro weakened against all 16 major counterparts. The Dollar Index, a gauge of the currency against six major peers, touched a one-month high. Australia’s dollar advanced 0.3 percent versus the greenback and China’s yuan climbed to a 19-year high.