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European stocks set to open higher this morning-check out the FTSE 100

The European stock markets are set to open higher this morning. The DAX futures are higher following the much better than expected German factory orders data, but more on that index in a moment. Meantime, the FTSE struggled to make progress yesterday, as did the DAX and the CAC too. All three indexes closed ever so slightly lower on the day. The FTSE 100 ended just 2 points lower, at 7.612. However, this morning the index is set to open quite a bit higher shortly, buoyed by gains in the US futures and the Chinese markets. Perhaps more pertinently, it has been buoyed by the latest news from the major component, BP who have announced another share buy-back following the release of their results a little earlier this morning. The FTSE 100 is currently priced to reopen at around 7,660

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