FTSE 100 outperforms in early trading

In a short while we will see a whole bunch of European PMI services and composite PMI revisions hit the screens, from Italy, France and Germany, then later on from the UK. Of course none of that data might be revised in either direction and if that is the case, there will be no market impact. Ahead of all those, the European equity markets are up and running and the FTSE MIB is taking something of a lead, boosted by results from Unicredit. Overall the FTSE 100 is performing best of all though in relative terms and the DAX is yet to make much of a move. The dollar is gyrating and not giving back any real ground this morning. The GBP/USD is still under pressure and that is helping to support the FTSE 100, even as Oil prices remain subdued this morning. Brent is under pressure right now too and not far above session lows, near $77 per barrel. The FTSE 100 is just now edging back above 7,650, where the index closed on Friday at 7,615