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FTSE 100 futures lift following UK jobs report

Yesterday the FTSE 100 managed to reverse an early session fall below 8,200. The low seen was set at 8,183. The index later closed at 8,228, with a loss just 16 points on the day. The opening outlook for this morning is for a higher opening right now, following the UK jobs report just released a short while ago. Quite why that is does not seem to rest with that data and could have more to do with the rebound in oil prices since this time yesterday morning? That said the past 2 UK jobs reports are clearly indicating a less then ideal picture for the UK economy- rising wages and falling employment and that is a positive for anyone thinking that a slowing in the UK economy is ripe for UK rate cuts down the line. However, a word of caution on that outlook would rest with the wages data. The FTSE 100 is right now priced to reopen around 8,255 
 

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