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FTSE 100 swaps the lead for last place so far today

Since the beginning of the month, each time the FTSE 100 has rallied it seems to run into sellers on those rallies. That was the case on November 3, again on November 10 and so far today it looks like repeating a similar pattern. The FTSE 100 is right now the only major European stock market in the red. That said the CAC 40 is barely in credit just now. So, what is this price action in the FTSE 100 trying to tell us? Well, the markets are really still bearish on the UK outlook, but right now it could be due to the UK CPI, RPI and PPI inflation reports due early tomorrow morning (7am GMT). The price action in the FTSE so far today is very much at odds with the consensus forecast for UK inflation to fall back markedly in October. That seems a little odd, but what I can say right now; is if that does not happen, then the UK stock market might not have to wait for another rally before it gets knocked lower again. The FTSE 100 has fallen back from an official opening today, at 7,425, to 7,386 so far. It is just now trading at 7,395

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