While you were sleeping Spanish budget appeals

Thu, 27 Sep 2012

By Margreet Dietz Sept 28 (BusinessDesk) - Investors applauded a Spanish budget that's focused on cutting spending and the deficit as that might help appease European Union officials if the cash-strapped nation moves ahead with asking for a full financial rescue. Also underpinning equities and commodities were expectations that China will soon move to propel growth. Spain's budget, approved by the nation's cabinet today, is aiming to reduce the 2013 deficit to 4.5 percent of gross domestic product, compared with a 6.3 percent target for this...

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