LONDON (Reuters) - World shares hit a new high on Monday, led by China, though the global rally faded in Europe as investors looked ahead to central bank meetings in the United States and worried over Greece.
European stocks were little changed, paring a drop, as Deutsche Bank AG fell and HSBC Holdings Plc gained. The Stoxx Europe 600 Index added less than 0.1 percent to 408.69 at 11:31 a.m.
Deutsche Bank AG's plan to cut costs by selling Postbank and shrinking the securities business is leaving investors cold as the overhaul pushes back targets that management has failed to deliver.
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TOKYO�Fitch Ratings downgraded Japan's credit rating Monday, highlighting the challenges that Prime Minister Shinzo Abe's administration faces in trying to stoke growth while dealing with the nation's towering public debt.