FTSE Down but Stabilising
Published / Last Updated on 07/08/2011
FTSE Down but Stabilising.
Following the weekend’s news that Standard & Poor’s have downgraded US debt, the FTSE 100 is trading 1.9% down, but has now stabilised, rising to 5,283 early this morning and then back down again to around 5,147 for most of the morning and at similar levels throughout the mid afternoon.
Moody's maintain their AAA rating of the US but may still downgrade if the economy deteriorates significantly and has no major growth projections between now and 2013.