FTSE rises despite bank downgrades

Ratings downgrades for six of the world's largest banks failed to unsettle the financial sector or the wider London market.

Citing the challenging financial markets, Fitch lowered its long-term rating on Barclays to 'A' from 'AA-' and took similar action on Bank of America, Goldman Sachs, BNP Paribas, Deutsche Bank and Credit Suisse.