Mass Downgrade Stuns Eurozone

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Europe received an unwelcomed weekend surprise after S&P stripped France of its coveted “AAA” credit rating late on Friday, while also downgrading eight other Eurozone nations. Markets await the results of French bill auctions today,worth €8.7 billion, to gauge the impact of S&P’s ratings cut. At home, the housing market continues to face a challenging scenario with Righmove’s house price index indicating a decline for January. With US markets closed today and a light economic calendar globally, trading sentiment will be driven by news bytes from the Eurozone

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Mass Downgrade Stuns Eurozone

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