FTSE 100 still finding some support for now ahead of 7,400

The previous update noted the DAX just stalling above the 16,200 handle again this morning and also mentioned the FTSE 100 being the Dog of the major global stock markets. Well, that is most certainly the case in recent weeks and in truth for most of the year too. It has struggled to gain traction for some weeks now and on the year as a whole. The year to date return is now -0.48%. Compare that to the DAX for example, where you have a 16.36% YTD return and the contrast is plain to see. So, the index fell back on the opening this morning, but not by much yet and also it has held the previous interim low, at 7,403, but only by the smallest of margins. It seems there is still buying interest ahead of 7,400 for the time being and that has helped the index lift slightly just now. It remains to be seen if this level will continue to act as support as the day further unfolds. The FTSE 100 is currently trading at 7,415