FTSE 100 reclaims 8,300 on the opening

As noted here earlier, yesterday the FTSE 100 was unable to post a higher close. The index ended the session 12 points lower, at 7,193. The FTSE has just reopened and it sure has played catch-up this morning. There is little doubt that the gains in the DAX on the opening this morning have helped the FTSE 100 rise and so has the rebound in oil prices today. The FTSE 100 has nosed its way above the 8,300 handle this morning. The outlook is certainly immediately more positive this morning and soon the focus will shift to the BOE rate decision next week. Right now the markets do not expect another cut from the BOE, but if that is forthcoming, then it could add another layer of support for the UK benchmark index. The FTSE 100 is currently trading at 8,300