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FTSE 100 set for an effective lower opening today

As covered here a few times already today, it was not a technically positive close for some of the major European stock markets on Friday. That encompassed the FTSE 100, although its opening levels do not accurately reflect the fact, that it did effectively set in place a major technical reversal, from what was a new record high on Friday. The index reached a new record, at 8,586.68. It later closed at 8,502.35, after hitting a session low, at 8,492.73. The index had closed on Thursday, at 8,565.20. This morning, the FTSE 100 futures are under a good deal of pressure, as are all the US and European futures right now. Of course technically the FTSE 100 will reopen where it closed on Friday (due to the usual way it is reported), but the effective opening is going to be a lot lower than that, currently at around 8,460, but it has been priced as low as 8,425 a little earlier today 
 

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