FTSE 100 outperforms so far this morning

Last week the FTSE 100 enjoyed a bounce that seemed less than likely the week before. In the event the 7,400 level pretty much capped the downside and the rally that has unfolded since has been quite dynamic. The index is performing well so far this morning too, despite some downside elsewhere across the European markets in the first hour of trading today. The FTSE 100 closed on Friday at 7,635 and it has not traded below that level this morning. It has continued to press a little higher and perhaps buoyed by the further rise in Oil prices since last week. Of course the big test for the index could some later this week, when the BOE releases its latest monetary policy decision. That could be crucial in deciding, if the FTSE 100 can now rebound back above the noted resistance at around 7,760. That is something it has so far failed to do in 2024, having stalled up there several times earlier this month. The FTSE 100 is currently trading at around 7,665