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FTSE 100 holds 8,250 for now- downside risks could become more elevated in the days ahead

The rebound in the DAX has now extended to above 19,500 and the move higher has been helped since the release of the earlier improved IFO index. At the same time, the FTSE 100 has managed to hold the noted support level, at 8,250. It came very close to that level earlier this morning. The low point seen was set at 8,251. It has now edged back above 8,270. However, there are important developing headlines, which suggest the FTSE 100 may still be at risk from domestic investors banking stock market gains ahead of the budget next week. That is because the UK Prime Minister, Keir Starmer has made it pretty clear; that a tax on shares held for investment by non-working UK Britons could be in the budget. It does not seem like the markets have fully priced in the risks of what that might statement might mean for UK stock markets. However, if these headings attract wider attention, the FTSE 100 could be in for further downside in the coming days. The index is just now trading at 8,271

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