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GSK results helps to lift FTSE 100 futures
As noted here earlier in the previous update, the FTSE 100 was the outlier amongst the major European stock markets. The index fell back to a low at 8,235.55. The reasons for that would seem to rest with the announcements from the new UK Chancellor, Rachel Reeves and her spending cuts and the fact that all that has paved the way for tax increases in October. The other reason was the further slide in oil prices yesterday. Notwithstanding all that though, the FTSE later lifted off the lows and closed just 17.94 points lower, at 8,274.41. The futures price has rebounded today though and right now it is being given a boost from the Q2 results from GlaxoSmithKline (GSK), which have beaten the street on the top and the bottom line a short while ago. GSK is the sixth target component within the FTSE 100 by weight. So, the FTSE 100 is set to open higher this morning and currently at around 8,355
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