A look at economic developments around the globe

AP News
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Posted: Apr 26, 2012 5:09 PM
A look at economic developments around the globe

A look at economic developments and activity in major stock markets around the world Thursday:

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MILAN _ Italy was forced to pay higher interest rates of 1.77 percent in the latest sale of its six-month bonds.

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DUBLIN _ Ireland is successfully cutting its deficits, bolstering its banks and pursuing job-creation strategies, its international bailout creditors said as they signaled support for a further round of loans.

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LONDON _ A surprisingly strong U.S. housing survey helped shore up markets despite a mixed batch of corporate earnings and further evidence of a sharp slowdown in the economy of the 17 countries that use the euro.

Germany's DAX was up 0.5 percent while the FTSE 100 index of leading British shares rose 0.5 percent. The CAC-40 in France was lower, ending down 0.13 percent.

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TOKYO _ In Asia, Japan's Nikkei 225 index closed slightly higher, up 0.01 percent, as traders proceeded with caution ahead of the Bank of Japan's policy-setting meeting Friday.

South Korea's Kospi rose 0.1 percent higher. Hong Kong's Hang Seng posted a 0.8 percent gain. In mainland China, the benchmark Shanghai Composite Index edged 0.1 percent lower.

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WARSAW, Poland _ Chinese Prime Minister Wen Jiabao says his country is setting up a $10 billion credit line to support joint projects with Central European nations.

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