FTSE 100 outperforms in early trading

The European stock markets have been open for more than 40 minutes now and in that time there has been little in the way of upside price action. In fact, more so the opposite. The DAX and the CAC are now further in the red and the only index holding its ground is once again the FTSE 100. That was the best performing major European index yesterday and so far this morning it is repeating that performance. The index is holding above 8,240, even as the DAX now falls below 18,450. The fall back in the GBP/USD might be helping the FTSE 100 as well and perhaps offsetting the lower oil price today.