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FTSE 100 gets the helping hand it needed as 7,700 looms

Yesterday the FTSE 100 managed to avoid a lower close and was the best performing major European index, but only by a small margin. The index closed 5 points higher, at 7,548. However, the surge in the US markets following the Fed policy announcement has helped the FTSE to open sharply higher today. The effective opening was above 7,670, leaving aside what the book entry indicates and now it is pressing ever closer to 7,700 mark and it is already on fresh highs not seen for a long time now. The DAX just tested the 17k level by the way folks, but more on that in updates to follow. So, even the rebound in the pound is not denting the FTSE 100 this morning and there is good reason for that, because the UK benchmark is so far behind its peers, it has plenty of potential, given those stellar gains elsewhere. We shall just have to see what the BOE has to throw at it later, when they announce their final policy decision of the year. The FTSE 100 is currently trading at 7,685

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