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FTSE live: Markets make late gains

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16.13: European markets have moved into positive territory after a largely static day of trading for most indexes.

At 16.13, the FTSE 100 was up 0.3 per cent to stand at 5653.49. The French Cac 40 and the German Dax are up 0.7 and 1 per cent respectively.

14.46: The FTSE 100 and the French Cac 40 have both made marginal gains in trading today, while the German Dax is now up by almost 0.4 per cent

12.42: Markets have been flat in trading on Monday despite fears that the S&P downgrades could prompt a sharp fall.

At 12.42, the FTSE 100 and the French Cac 40 had both made minor gains from their opening prices, while the German Dax was up 0.5 per cent.

10.56: The FTSE has now fallen by 0.4 per cent as global markets start to feel the fallout from the news that Standard & Poor’s has downgraded the credit rating of nine European countries.

At 10.56, the FTSE 100 was down 0.42 per cent to stand at 5612.74, while the French Cac 40 was down 0.7 per cent. The German Dax remained in positive territory having risen 0.1 per cent.

9.45: The FTSE 100 has fallen 0.2 per cent in early trades as global markets react to the news that Standard & Poor’s has cut the credit ratings of nine European countries.

The German Dax has risen 0.2 per cent after the credit rating agency announced Germany was to keep its AAA rating, while France, which lost its AAA rating on Friday, has seen a fall in early trades with Cac 40 down 0.12 per cent.

9.05: European markets have been static in their first morning of trading since the announcement by Standard & Poor’s that it has cut the credit rating of nine European countries.

The FTSE 100 and the German Dax are both up by 0.1 per cent, while the French Cac 40 is down 0.1 per cent.

7.45: Asian markets have fallen in their first day of trading since the announcement by Standard & Poor’s that it has cut the credit rating of nine European countries.

Japan’s Nikkei 225 index fell 1.43 per cent, while the South Korea’s Kospi index fell 0.94 per cent and Australia’s ASX 200 lost 1.2 per cent.

On Friday, S&P’s downgraded France’s AAA rating one notch to AA+. S&P’s also cut its ratings for Italy, Spain, Cyprus, Portugal, Austria, Slovakia, Slovenia and Malta. Germany and the Netherlands retained their AAA ratings.

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