14th February 2012
The FTSE 100 has fallen in trading this morning (February 14th) following the announcement by ratings agency Moody's that it has moved the UK to a lower economic outlook, placing the country's coveted AAA credit status in jeopardy.
Alongside France and Austria, the UK has been placed on negative outlook by the agency, while it downgraded the credit ratings for six European nations, including Italy, Spain and Portugal.
However, Chris Weston at IG Markets told the Financial Times: "We had seen Standard & Poor's put the UK on review in 2009, but nothing really came of it, so we feel the probability of an actual downgrade remains less than 50 per cent."
The news follows a positive start to the week for the UK's blue chip index, with the ratification of the latest package of Greek austerity measures serving to boost investor confidence yesterday, resulting in a daily rise of more than one per cent.
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