A sober start to European trading this morning, on mostly weak service sector. Madrid was up 6/10ths of a percent, but the rest of Europe was mainly flat. In London, a big faller was retailer Marks & Spencer, after a series of weak Christmases. In Asia, the export-oriented Nikkei 225 slumped 2.35% on a rebound of the yen, while Chinese and Hong markets fell on more evidence of slower growth in the mainland economy.
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