European stocks not so buoyant now- FTSE 100 slips below technical support

The European stock markets have just reopened to start what is surely a busy week ahead of the STOXX 600, with so many companies reporting over the next few days. The news last week, that the French credit rating has been cut to negative by Moodys has so far not had much of an impact own the opening today. However, the FTSE 100 is edging lower again and of course the lower oil price today is not helping that index. Oil related stocks are major components within this index and as suspected, the FTSE 100 has immediately fallen back on the opening. The DAX is a little lower right now after reopening higher today. In fact the DAX is right now falling below 19,500 as the FTSE drops below its 100 day moving average (8,243) and that could deliver more downside, as was highlighted here in recent updates. The FTSE 100 is currently trading at 8,230