Stock markets reclaimed some ground but the euro fell on speculation Spain could move toward a debt rescue and the ECB would launch a new bond-buying plan.

European shares fell to a two-month low yesterday after a Spanish debt sale failed to reach its targets reigniting fears that the eurozone sovereign debt crisis could spark further national bailouts.

THE ECB flooded the market with cheap money and 523 cash-starved banks scooped up about €489 billion.

Bid speculation surrounding Heathrow airport owner BAA was not enough to prevent the London markets sliding into the red today after miners made significant losses.

Heavy falls by mining stocks plunged the London market into the red today, despite massive gains from airport operator BAA on the back of takeover interest.