European stocks open higher- FTSE lifts to 8,350

The European stock markets have just reopened and it has been an ebullient start to the day, with pretty much all sectors in the green. The FTSE 100 is pressing towards 8,350 and the DAX has lifted close to 20,700. The CAC 40 is being lifted by renewed gains in the luxury sector and that has helped the French index rise close to 7,600. The US futures remain on the front foot and US yields remain subdued. The dollar is still mulling its next move and right now that looks somewhat in the balance. There are some US economic releases of note this afternoon and those will undergo a deeper inspection in updates to follow later this morning. Meantime, the risk vista is positive and this abrupt change in sentiment is certainly in sharp contrast to what has taken place in recent days. The FTSE 100 is still riding the prospect of a potential BOE rate cut next month and the data released earlier this morning would tend to endorse such a prospect. The index is just now edging above that 8,350 level