European shares fall back

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European shares fell on Tuesday afternoon as a fresh batch of ratings downgrades on Spanish banks by Fitch added to concerns over the outlook for the country, with yields on its benchmark sovereign debt now at a euro-era high.

The FTSEurofirst 300 index erased its earlier gains and was down 0.3 percent at 980.36 points by 16:30 SA time. - Reuters

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