Fitch

France's AAA credit rating is safe, according to ratings agency Fitch, which has reassured market the election of Socialist President Francois Hollande has no implications for the country's credit rating.

Very few emerging market debt funds have performed consistently over the long term as managers fail to adapt to changing market conditions, according to Fitch Ratings.

Credit ratings agency Fitch has confirmed the European Union's long-term issuer default ratings at AAA.

ASIA

The FTSE 100 opened lower this morning despite recent positive economic data, as rumours of a Fitch downgrade of Italy weighed on markets.

Fitch Ratings has ruled out the prospect of cutting France's AAA-credit rating this year but warned fresh downgrades are on the cards for Spain and Italy.

Credit ratings agency Fitch has cut Hungary's long-term foreign and local currency debt to junk status, following a tumultuous week for the country.

EMERGING MARKETS

Barclays was among six global banking groups to be downgraded by Fitch last night, with the ratings agency pointing to challenging financial markets.

Fitch Ratings has said current market conditions should make equity managers adapt their stockpicking processes to take into account more top-down views.