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Greece also auctioned off short-term debt on Tuesday at a lower rate than it had been paying. The fund to bail out Greece and other troubled nations also raised money, despite a downgrade on Monday. The bailout fund's credit rating is based on the ratings of the nations that contribute to it. It was downgraded because S&P had cut ratings for most of the nations that use the euro and back the fund. Earlier, the Chinese government said its economic growth slowed to 8.9 percent in the fourth quarter. That was the lowest in two and a half years, but still better than the 8.7 percent predicted by analysts. Chinese growth must stay strong to keep the global economy moving as Europe tips toward recession, said Brian Levitt, an economist with Oppenheimer Funds. "Many emerging markets are more linked via exports to the Chinese market than to the European economy, so China becomes sort of the lynchpin economic activity across much of the world," he said. Asian and European markets closed higher. France's CAC 40 rose 1.4 percent, Germany's DAX added 1.8 percent. Among the other U.S. companies making big moves Tuesday: Lions Gate Entertainment Corp. rose 4 percent after it agreed Friday to buy Summit Entertainment, owner of the blockbuster "Twilight" franchise, for $412.5 million in cash and stock. R. R. Donnelley & Sons Co. lost 15.8 percent, the most in the S&P 500, after the printing company said its 2011 profit margin will be narrower than it had forecast earlier.
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