U.K. "has a wealthy, open, and diversified economy"
- S&P
Standard & Poor's reaffirmed the U.K.'s triple A credit rating with a stable outlook, telling the nation "has a wealthy, open, and diversified economy".
"The stable outlook reflects our current expectation that the U.K. government will implement the bulk of its fiscal consolidation program and that economic growth will not falter more than what we currently project," the ratings company said in the statement.
U.K. stocks fell, after China published weaker than expected GDP figure. The benchmark FTSE 100 index retreated 1.03%, or 58.67 points, to 5,651.79. The FTSE All-Share Index erased 0.98%, or 29.25 points, to 2,943.05.
"Markets still remain fragile and vulnerable," said Markus Huber, an equity-sales trader at ETX Capital in London. "Growth data out of China was slightly disappointing."
© Dukascopy Bank