- Spanish bond yields continue to set new records - Moody's turns 'negative' on Germany, Netherlands and Luxembourg - Croda surges after first-half resultsEquity markets spent another day in the red on Tuesday as concerns over the Eurozone continued to dampen the mood; following the two per cent drop the day before, the Footsie extended losses after Spanish bond yields failed to ease and Moody's cut the ratings outlook for Germany.Borrowing costs for Spanish debt have surged in recent days on the back of reports that more Spanish regions may follow Valencia in asking for government aid. Meanwhile, a Spanish short-term debt auction this morning was successful, with the Treasury managing to meet its target, though yields jumped to the highest levels (for these particular securities) since the introduction of the euro in 1999. With 10-year Spanish bond yields up a further 11.8 basis points today at 7.616%, speculation is mounting the that the country may need a full-scale bailout some time in the future, regardless of its recent bank recapitalisation aid.Bund yields in 'safe-haven' Germany also rose today, albeit by a less dramatic rate, after ratings agency Moody's warned last night that the nation - along with the Netherlands and Luxembourg - risks losing its AAA rating. The agency revised its outlooks on the three sovereigns from 'stable' to 'negative' due to the rising uncertainty regarding the outcome of the Eurozone debt crisis and the increased likelihood of Greece's exit from the single-currency region. Meanwhile, the Markit Eurozone composite purchasing managers' index (PMI) was unchanged at 46.4 in July, under forecasts of a slight rise to 46.5. With 50 being the figure that separates expansion and contraction, the numbers show that the Eurozone services and manufacturing output shrank for the sixth month in a row.In China, the preliminary HSBC manufacturing PMI rose from 48.2 to 49.5; while the sector is still contracting, the PMI is at a five-month high. FTSE 100: Slow-burning Croda catches fireIt took a while for the market to fully digest the results from speciality chemicals producer Croda International, but once it did the shares raced ahead. Strong demand for the group's products in the USA offset weaker trading conditions in Europe, while a change in the product mix sold led to an improvement in margins. BP edged lower after announcing that Rosneft is to enter negotiations to buy the integrated oil giant's shareholding in TNK-BP, Russia's third largest oil producer.Meanwhile, power systems group Rolls-Royce advanced after winning a contract to supply LNG power and propulsion systems to two ferries being built in Norway. Security firm G4S was also in demand despite announcing that 1,200 additional troops will deployed to help out at the Olympics after the company failed to provide enough fully-trained staff.Banking stocks were being hampered by risk aversion once again today as Eurozone debt concerns continue to cloud the outlook for the global economy. Barclays, Standard Chartered, Lloyds, RBS and HSBC were in the red today despite Investec reiterating its 'buy' ratings for all five stocks today, saying that while the upcoming first-half results season will be "unexciting", lenders are unlikely to provide a negative surprise. Glencore led fallers as profit-taking ensued across the grain complex in the United States. That on the heels of forecasts for rain across several West and mid-Western US states during the next fortnight. Nonetheless, Goldman Sachs yesterday day raised its price forecasts for grains three months out. Thus, any profit-taking may yet prove to be short-lived some think. There is also interest in the next FDA report scheduled for release in two weeks´ time.FTSE 250: Provident surges after Vanquis Bank performanceSmall loans specialist Provident Financial topped the risers list on Tuesday afternoon after reporting that its first-half performance was helped by a sparkling performance from its Vanquis Bank. The group reported a 17 per cent rise in pre-tax profits, while Vanquis Bank saw profits surge 60.2 per cent. The doorstep lender International Personal Finance advanced after saying that it is to return a pile of cash to shareholders after reporting a big rise in customer numbers and underlying profits at the half year stage. Hedge fund manager Man Group surged despite funds under management falling from $58.4bn to $52.7bn and adjusted profits almost halving. The firm said it was on track to achieve its cost-cutting target this year and said it will save further in the next 18 months. Heading the other way was consumer products group PZ Cussons after tough trading conditions in Nigeria and Australia plus soaring raw material costs dented profits in the year to May 31st. FTSE 100 - RisersCroda International (CRDA) 2,364.00p +6.06%Aggreko (AGK) 1,959.00p +2.78%Antofagasta (ANTO) 1,045.00p +1.75%G4S (GFS) 244.50p +1.20%Aberdeen Asset Management (ADN) 247.70p +1.18%Shire Plc (SHP) 1,890.00p +1.18%Serco Group (SRP) 565.50p +1.16%Hargreaves Lansdown (HL.) 552.50p +0.82%ARM Holdings (ARM) 484.80p +0.73%Rolls-Royce Holdings (RR.) 841.50p +0.72%FTSE 100 - FallersGlencore International (GLEN) 301.65p -2.33%ITV (ITV) 70.40p -2.22%International Consolidated Airlines Group SA (CDI) (IAG) 145.40p -2.15%Resolution Ltd. (RSL) 205.00p -2.10%ICAP (IAP) 301.10p -1.99%Aviva (AV.) 269.80p -1.96%Standard Chartered (STAN) 1,429.00p -1.96%Admiral Group (ADM) 1,129.00p -1.83%Lloyds Banking Group (LLOY) 28.76p -1.81%Xstrata (XTA) 798.60p -1.75%FTSE 250 - RisersProvident Financial (PFG) 1,297.00p +10.57%International Personal Finance (IPF) 255.60p +8.21%African Barrick Gold (ABG) 338.10p +6.66%Regus (RGU) 91.45p +4.51%Man Group (EMG) 72.00p +4.12%Atkins (WS) (ATK) 751.00p +3.87%Melrose (MRO) 210.00p +3.45%New World Resources A Shares (NWR) 305.00p +3.39%RPS Group (RPS) 232.60p +3.15%Synergy Health (SYR) 951.00p +2.53%FTSE 250 - FallersOcado Group (OCDO) 71.70p -5.35%PZ Cussons (PZC) 305.00p -5.19%Cable & Wireless Communications (CWC) 30.77p -5.18%AZ Electronic Materials SA (DI) (AZEM) 268.70p -5.05%Kentz Corporation Ltd. (KENZ) 385.70p -4.60%Home Retail Group (HOME) 71.20p -4.04%Henderson Group (HGG) 90.55p -3.82%Tullett Prebon (TLPR) 260.00p -3.02%Stagecoach Group (SGC) 276.30p -2.71%Aquarius Platinum Ltd. (AQP) 38.01p -2.71%BC
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