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FTSE 100 in the record books again

Yesterday the FTSE 100 busted some more records, with a new all time high, at 8,365.28 and an all time record close at 8,354.05- a gain of 0.49% on the day. This time though the FTSE 100 was not the best performing major European index, as that mantle belonged to the CAC 40, with a rise of 0.69%. The FTSE 100 futures have pressed a little higher earlier, but not my that much and right now the index is poised to reopen above 8,360. Of course the BOE decision is a key driver for the price action later today. Perhaps, even if the BOE were to cut rates today, there is an argument for that being priced in already at these record levels? We shall see, first if that happens and then what it might deliver for the index, if it does. No matter what actually transpires today, there is little doubt the BOE governor Andrew Bailey would seem more likely to wave the dovish flag than not, but we shall have to see on that too.

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