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European stocks waver as Moody's downgrades France

Published on Nov 20, 2012 11:27 PM

LONDON (AFP) - European stock markets wavered on Tuesday after Moody's stripped France of its coveted triple-A rating, and before more eurozone talks on Greece's latest bailout cash.

The Paris CAC 40 index shook off earlier lows and was virtually unchanged at 3,438.97 points as Moody's cut France's bond rating by one notch to "Aa1", citing structural weaknesses in the French economy, slow reform, and French exposure to troubled eurozone countries.

It also warned that an additional downgrade was possible.

London's FTSE 100 index of top companies slipped 0.16 per cent to 5,728.52 points in afternoon deals, but Frankfurt's DAX 30 rose 0.31 per cent to 7,146.18 points after a new round of solid housing data from the United States.

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