There are concerns the eurozone bailout fund may lose its AAA rating with S&P

<p>The FTSE is currently trading at around breakeven levels of 5648. The index did, in fact, open down following losses in US and Asia after […]</p>

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  • The FTSE is currently trading at around breakeven levels of 5648.
  • The index did, in fact, open down following losses in US and Asia after multiple sovereign downgrades by the S&P.
  • There are concerns that the eurozone bailout fund may also lose its AAA rating with the S&P after France, the fund’s second-biggest guarantor, lost its top notch rating.
  • Miners are under pressure here in the UK today as the price of copper fell.
  • Oil and gas stocks are faring well today as Brent crude rose.
  • No major UK or US companies are scheduled to report results today. There is also a lack of major economic indicators – it is a public holiday in the US. Here in Europe, keep an eye out for the French debt auction.

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