FTSE 100 gets another shot in the arm this morning

Yesterday the FTSE 100 managed to reverse the technically negative close the night before and the sole reason for that was the lower than forecast UK inflation data. That news helped the index to close back above both its 100 and 200 day moving averages. The FTSE 100 closed yesterday at 7,568 and it was the best performing major European index on the day, rising by 0.75%. The UK GDP data released a little earlier this morning has helped to lift the index futures and that is because UK bond yields have fallen back again after that data shifted the outlook for UK monetary policy. The markets have now bought forward their timing for an interest rate cut from the Bank of England this year. So, the FTSE 100 futures are getting a lift from that shift and pricing a reopening closer to the 7,600 handle just now