Pick of the early market news

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After chalking up recent gains, the FTSE 100 yesterday lost its climbing grip, slipping back to 5,396. Several miners - Antofagasta, Cairn Energy - were partly to blame, though a few financials, including Old Mutual, also lost ground. In the Eurozone, Spain saw two of its leading banks downgraded, Santander and BBVA - plus a rash of smaller Spanish financial institutions. Today? Let's grab a bag and scarf.