FTSE treads water following fresh Moody's warning

London's leading share index has made a subdued opening in early trading, with investors returning cautiously to stocks after yesterday's sell-off.

Markets sold-off sharply on Monday after ratings agency Moody's reiterated it would review the ratings of all 27 EU nations in the first quarter of next year. This morning, investors were wary, with the FTSE 100 up just 0.14% or 7 points to 5,435 by 9.50am. Other leading European markets have also opened flat with the German Dax up 0.4% to 5,809, while the French Cac is down 0.1% to 3,086. Overnight in the US, the Dow Jones fell sharply, losing 1.3%, while London's FTSE closed 1.83% lower on Monday. At one point yesterday, the Dow was down 243 points but recovered slightly in late ...