London’s blue-chip index climbed above the 6000 barrier today as investors shrugged off higher oil prices and a new ratings downgrade for Greece.

Moody’s Investor Services has downgraded Greece’s debt rating even further below junk status amid fears that the bailed-out eurozone country will end up having to restructure its massive debts.

Moody’s Investors Service has downgraded Egypt’s government bond rating to Ba2, and changed its outlook from stable to negative.

AS the Government prepares to put a final cost on the Anglo Irish Bank rescue, rating agency Standard & Poor’s warned the total cost of the bailout could be higher than its initial €35 billion estimate.