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FTSE 100 finally reclaims 7,400 as DAX accelerates

Following on from the previous update, noting the rise in the European stock markets on the opening today, the FTSE 100 has done something it has not managed to do for several days, and that is to rise above 7,400. That level had been providing stiff resistance since October 26. The move through this price point is not exactly conclusive yet, but the Bank of England looks primed to add support later today, with overwhelming expectations of no policy shift set to help the FTSE 100. By the way, the DAX has now lifted above that resistance level and if you look there you can see the acceleration that has unfolded and taken the DAX to above 15,090 a moment ago. The FTSE 100 is just now trading at 7,412

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