threat from Standard & Poor’s that Europe’s six biggest economies
may see their top-notch ratings downgraded has thrown some grit into the
risk asset rally.
European bourses and US futures are near session highs, however,
after stronger than expected German industrial orders data eased
concerns about the health of the continent’s economy.
FTSE All-World is down 0.4 per cent, industrial commodities are mixed
and the dollar a touch weaker. S&P 500 futures suggest Wall Street
will gain 0.3 per cent at the open, while the FTSE Eurofirst 300 is well
off its lows and is flat on the day.
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