Rudolf Oultz watches the display board at the Australia Stock Exchange in Sydney, Monday, Aug. 8, 2011. Australian and New Zealand markets have opened lower in reaction to ratings agency Standard and Poor's downgrading of the United States government credit rating from AAA to AA+. (AP Photo/Rick Rycroft)AP – Most European markets rose and Spain and Italy’s borrowing costs dipped to more manageable levels on Monday after the European Central Bank said it would buy the two countries’ bonds in order to help them avoid devastating defaults.


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