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FTSE 100 futures ignore lower UK wages data

As reported on here earlier this morning, the FTSE 100 was the best performing major European stock market index yesterday, but only in relative terms, because the index still closed lower on the day. The FTSE 100 closed below 7,600, at 7,594 with a loss of 30 points on the day. Understandably, given the losses in Asia this morning and downside across the whole European futures vista right now, the FTSE 100 is priced to open lower today. The latest UK jobs report, showing a lower rate of increase in UK wages has not yet had much of a positive impact. That is because the downside for the FTSE 100 has little to do with domestic issues or data. It is bigger than that right now and concerns all the global markets. So, the FTSE 100 futures have so far gleamed no benefit from that UK data. The index futures is on session lows right now and pricing a reopening at not much above 7,560 
 

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