European stocks hand back gains leading into the close- FTSE 100 leads the way

Earlier today all the major European stock market indexes were on the rise. Well, right now the FTSE100, DAX and CAC 40 are all handing back a good deal of those earlier gains. One catalyst for the fall back could be resultant upon comments from a couple of ECB officials, walking back somewhat on the prospect of significant further rate cuts. That coupled with a lack of traction stateside, except of the Nasdaq 100, might be having an impact. Earlier today the FTSE 100 reached a session high at 8,337. Despite the drop back in the CAC and the DAX, it is the FTSE 100 that is leading the percentage moves lower right now, falling back towards 8,275. Once again there seems to be a degree of investor reluctance to hold UK stocks ahead of the Budget next week