Markets Shrug Off Triple-A Downgrade

MONDAY MARKET UPDATE: Equity markets in London continued to edge higher, indicating that investors were unruffled by Moody's downgrade to the UK's credit rating

Alanna Petroff 25 February, 2013 | 5:58PM
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The FTSE 100 and FTSE 250 indices edged higher on Monday as investors demonstrated that they were relatively unfazed by the news that Moody's Investors Service had downgraded the UK's government bond ratings to Aa1 from Aaa. The downgrade had been expected by investors for some time.

This [downgrade is] a consequence of low or no economic growth and consistently high levels of debt

The large-cap FTSE 100 index added 20 points, or 0.3%, to close at 6,355. The mid-cap FTSE 250 index added 17 points, or 0.1%, to close at 13,686.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Antofagasta PLC1,476.00 GBX0.41
NatWest Group PLC233.60 GBX0.17Rating
Pearson PLC630.80 GBX2.54Rating
Reckitt Benckiser Group PLC5,391.00 GBX-1.98Rating

About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.