A look at economic developments around the globe

AP News
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Posted: May 04, 2012 5:11 PM
A look at economic developments around the globe

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

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MADRID _ The number of people claiming unemployment benefits in Spain dropped slightly in April as employers hired for short-term jobs during the Easter vacation period.

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LONDON _ Markets fell sharply after U.S. jobs figures indicated a slowdown in the world's largest economy and investors looked ahead to elections in France and Greece that might affect the way Europe deals with its debt crisis.

The FTSE 100 index of leading British shares closed down 1.9 percent while Germany's DAX fell 2 percent. The CAC-40 in France ended 2 percent lower

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TOKYO _ In Asia, Hong Kong's Hang Seng fell 0.8 percent and South Korea's Kospi lost 0.3 percent.

Mainland Chinese shares rose, with the benchmark Shanghai Composite Index up 0.5 percent and the Shenzhen Composite Index adding 1.1 percent.

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BEIJING _ China agreed to let foreigners own bigger stakes in its securities firms and promised to limit export subsidies after a high-level dialogue with the U.S. went ahead despite controversy over a Chinese activist.

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