FTSE 100 underperforms in early trading following another negative close on Friday

The FTSE 100 set a new record on Friday, at 10,989.45. However, it could not hold that record and fell back quite markedly into the close. The index ended the week on Friday, at 10,868.05- a second successive negative outside day reversal, from what was another record high. That made two in a row and that is not positive anyway one cares to spin in. So, given that negative close, it is perhaps hardly surprising the index is underperforming so far today and trailing in the wake of the records we just noted in the DAX. 

This comes despite some major M+A speculation concerning two of the biggest components within the index. The FTSE has fallen close to 10,846 this morning, but it is off that low right now. That said, the index has technically given some indication that it could reverse even lower, despite all that surrounds it right now. We shall have to see on that prospect. The FTSE 100 is currently trading around 10,865