The European equities FTSE,CAC and DAX ended up lower

[gnutrade.satya]

The European equities like the FTSE , CAC and DAX ended up lower after Moody's said it could downgrade Spain's debt rating, with banks featuring among the worst performers. Banking stocks, which are sensitive to changes in the economic environment featured among the worst performers after the Moody's news.Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, said: "Moody's putting Spain on review brought to light all the troubles the euro-zone is facing, but it has not been able to drive the whole market down substantially. For technical reasons I am expecting the dips to be bought, fund managers which have lagged their benchmarks normally try to window dress their portfolios in December and put in better names which they might have missed earlier in the year."