Markets turn red as US disappoints and Moody's downgrades Greece

At London opening the FTSE index of 100 leading shares was down 1.03% at 5,867.79. Overnight, major indices including the S&P 500 and Nikkei 225 dived sharply after US jobs data missed the mark. An estimate by ADP, the payroll processor, that the US private sector created just 38,000 new jobs in May fell well below a forecast gain of 175,000, hurting sentiment. The disappointing jobs data coincided with a manufacturing survey which showed a 19-month low in production and a drop-off in car sales, sending the S&P 500 down 2.3% to close at 1,315 points. Meanwhile in Asia markets we...