FTSE 100 opens lower as BOE awaits

Well, the European stock markets did open lower a short while ago, but that was hardly the surprise of the morning. It would have been a greater surprise if that were not the case. So, the FTSE 100 effectively reopened today at below 7,700 after closing last night at 7,731, with a gain of 71 points on the day, making it the best performing index in percentage terms on the session. The index is of course subject to whatever the Bank of England has to throw at it later on. On the face of it, the potential outcome permutations would seem quite simple, but as usual much will be in the nuance of any BOE statement that might accompany any policy action. The markets are rather mixed in terms of expectations here and money market rates have fallen back in recent days. Overall though the consensus does call for another 0.25% hike today. There will be more to add on this as the morning unfolds. Meantime, the FTSE 100 is just now trading at 7,670