London markets made gains this morning despite S&P's move to downgrade Italy's sovereign debt rating from A+ to A, with shares recovering some ground lost on Monday.
The FTSE 100 gained 31 points, or 0.6%, to reach 5,290.74, as investors shrugged off the downgrade of Italy. In Europe - which was also sold off heavily yesterday - the German Dax climbed 0.46% to reach 5,441.07, while the French Cac 40 gained 0.22% to reach 2,945.61. Yesterday global markets sold off across the board as investors fretted over Greece's efforts to meet its deficit reduction plans. London closed 2% down at the end of the day. Talks have been taking place this week seeking to establish whether Greek prime ministers George Papandreou will be able to slash the country's...
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