Lower oil and higher Pound still hampering FTSE 100

The FTSE 100 was the weakest of the three major European stock market indexes yesterday. The FTSE barely managed to make any headway and closed just 10 points higher, at 8,283.43. The reason for that would appear simple; the higher GBP/USD and lower oil price is hampering the index. Indeed the slide in oil prices after the FTSE closed may act as a drag on the index again today. There are also flash PMI readings from the UK this morning too. Those will be released at 8.30am GMT and could have a bearing on how the index trades later this morning. There will be more to add on those later, ahead of the release. Meantime, the FTSE futures are currently pricing an effective reopening at around 8,270