European stocks edge back from earlier gains- FTSE 100 slips amid reports of record outflow

The European stock markets are now retreating somewhat. Earlier today the DAX rose to a session high at 19,286. It is now slipping below 19,225. The CAC 40 reached 7,445 and that is now edging back to test the 7,400 handle. The FTSE 100 reached 8,239 and that is slipping towards 8,215. The fall in the FTSE 100 comes amid reports of record outflows in the month leading up to the UK budget. According to reliable press reports, investors in UK equity sold around £2.7 billion worth of stock in October- the highest amount in any month ever recorded. It is unclear right now, whether or not much of that is likely to be re-invested and certainly it does not seem like it has yet. Given the extent of that outflow, the question worth asking is; will whomever is still potentially holding some of that outflow continue to do so, or look to part company with it, if the index falls back in the coming days. We shall have to see on that