Significant divergence either side of the channel as rotation sees FTSE 100 gain

The European stock markets have been open for around 20 minutes now and in that time we have seen lower openings for the CAC 40 and the DAX. The CAC has been forced lower by losses in LVMH and the wider luxury sector following comments from that company regarding the outlook in China. The DAX is lower as well and extending those loses right now, following the noted technically negative close yesterday. In contrast to that the FTSE 100 is the positive outlier for all the reasons noted here in previous updates. The FTSE 100 is being buoyed by the enhanced prospect of BOE rate cuts to come. So, what we have seen in early trading is a marked divergence between stocks on the continent and those here in the UK. That is clearly rotation in favour of the FTSE 100 and it could persist for the immediate future today. The FTSE 100 has lifted close to 8,320 this morning, but it is just off the highs, as DAX and the CAC seem to help stem the rise by remaining under pressure right now