UK markets closed today but the FTSE 100 is very much in the spotlight this week

The FTSE 100 not be open today due to the VE Day UK holiday. The FTSE was the worst major performer on Friday, but it still gained 1.17% by the close. However, that was nothing compared to the 2.33% gain in the CACX 40 and an even more impressive gain of 2.62% for the DAX, but more on those later. The FTSE 100 reached a high on Friday at 8,622.14 and it closed above a technical level, at 8,586.92. That was the 76.4% correction level of the whole downside move, from the record at 8,908.82 to the April low at 7,544.83. The FTSE futures are trading this morning and of course the markets are very much focused on what the Bank of England delivers this coming Thursday. The BOE is overwhelmingly expected to lower the base rate by 0.25%, taking it down 4.25% and more cuts are expected to come this year. There will be more to add on this over the next 2-3 days. The FTSE 100 is currently priced to effectively reopen tomorrow around 8,615