Reuters: Hot Stocks: French downgrade stifles UK FTSE momentum

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French downgrade stifles UK FTSE momentum Nov 20th 2012, 08:14 LONDON | Tue Nov 20, 2012 3:14am EST LONDON Nov 20 (Reuters) - Britain's top share index inched lower early on Tuesday, having matched its biggest one-day rise of the year in the previous session, as Moody's downgrade of France encouraged some profit taking. By 0804 GMT, Britain's FTSE 100 was down 0.3 percent, or 16.56 points, at 5,720.57, having rallied 2.4 percent on Monday on optimism U.S. law maker would soon come to some agreement over a fiscal compromise. The rally hauled the blue-chip index back within its recent trading range but Moody's removing France's coveted AAA credit rating, although expected, was a sober reminder of the hurdles facing Europe's core in terms of its outlook and stability. (Written by David Brett)

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