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Shell results help to underpin FTSE 100 opening outlook
The Q2 earnings results from Shell have just been released and the UK listed oil giant has beaten forecasts on both earnings per share (EPS) and revenue. That is perhaps not much of a surprise and also the company has announced plans for more share buy-backs and hence this is underpinning the opening outlook for the FTSE 100 this morning. The index was the standout performer amongst the major European indexes yesterday. The FTSE 100 closed 1.13% higher, at 8,367.98 and that compared to a 0.76% rise for the CAC 40 and 0.53% for the DAX. The prospect of a 0.25% rate cut from the BOE later today is also underpinning the opening outlook. So, the FTSE 100 is set to open close to the 8,400 handle which it almost touched yesterday. The high seen was set at 8,399.88. It is currently priced to reopen at around 8,390
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