FTSE 100 trades flat at 5636.41, in choppy trade. Traders say Friday's afternoon session saw most of the reaction to S&P's downgrade of euro-zone nations, before the news was made official. Brokerage notes lend support Monday, with AMEC +1.1% after Goldman Sachs upgraded the stock to buy from neutral and Wm Morrison +0.9% after an upgrade by Deutsche Bank. On the downside, though, cruise liner operator Carnival plunges 18% after Friday's Italian cruise ship disaster, which could cost the company between $85 million-to-$95 million in lost earnings alone. There are no major UK data due and US markets will be closed for Martin Luther King Day.
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