France dodged a bullet this week when Standard & Poor’s kept its triple-A rating on the country’s debt, but the exchange traded fund remains under pressure on the Eurozone crisis.
“The rating for France is a stable AAA and that has been the case since 1975. We are confident on that rating,” said S&P Chief Carole Sirou, reports International Business Times.
European stock ETFs have traded lower despite some countries banning short selling. [European ETFs Recover on Talk of Short-Sale Ban]
A recent meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy did little to calm nerves as no real steps were announced to address the credit storm. [Euro Currency ETFs Fall]