FTSE 100 opens higher this morning

As noted here a little earlier this morning, the FTSE 100 was the worst performing major European stock market index yesterday. The FTSE 100 closed 52 points lower, at 7,628. The index had earlier stalled short of the important 7,700 level. The high seen was set at 7,694. The index has now reopened today and it has been a slightly higher opening, led by gains in AstraZeneca and British American Tobacco. That said the FTSE 100 faces headwinds and all the while it cannot reclaim levels above 7,700 downside risks may remain in place