04/12/13 Market Movements
Markets closed down 22.46 points at 6,509.97.
Nothing to report.
S&P’s head analyst Moritz Kraemer today suggested that S&P may put Britain’s AAA rating on a more stable footing if the UK’s stronger than expected growth shows continued signs of sustainability in the new year.
These comments follow the release of data earlier in the week which showed that UK manufacturing is growing at its strongest rate in almost three years and UK construction being at a six-year high.
S&P is the only one of the three main rating agencies to still have Britain at AAA after both Moody’s and Fitch downgraded the UK to Aa1 & AA+ respectively earlier in the year. S&P currently has the UK as AAA with a ‘negative outlook’.