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FTSE 100 edges above 8k again

The gains in the US stock market futures ahead of the opening have been led by a number of factors. First the relief; that so far the crisis in the Middle East has not escalated further and hopes that it will not do so. Second was the beat from GS and third just now was the better than forecast US retail sales data. That further rise in the US stock futures has helped to lift stocks here in Europe too. Also, the threat of an ECB rate cut in June is underpinning the likes of the DAX and the CAC. Even the FTSE 100 has traded back above 8k this afternoon. However, we shall have to wait to see, if the index can manage a daily close above that level later today. The gains in European stocks is helping to eclipse any downside draught for the FTSE 100, from the lower oil price and slight rise in the GBP/USD today, although the Pound is now edging lower again. 

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