Momentum carries European stocks higher

European equity markets nudged higher on 7 of March, shrugging off the twin impact of higher oil prices and a three-notch downgrade on Greek sovereign debt by Moody’s.

Cutting its rating on Greece’s debt to B1 from Ba1, Moody’s also kept a negative outlook, saying that the country’s plans to reduce its debt burden were “ambitious and subject to further risks”.

ESO: Background information: Moody’s downgrades Cyprus sovereign rating http://www.europeansources.info/record/moodys-downgrades-cyprus-sovereign-rating/

ESO: Background information: Moody’s clashes with EU on advance warnings http://www.europeansources.info/record/moodys-clashes-with-eu-on-advance-warnings/

ESO: Background information: Moody’s slashes Greek debt rating by three notches http://www.europeansources.info/record/moodys-slashes-greek-debt-rating-by-three-notches/

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