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Why the FTSE 100 is the only major stock market still in the green this afternoon
As reported on here in all the recent updates, the news flowing from the Middle East has sent all the major global stock markets either side of the Atlantic lower this afternoon. However, there is one notable exception and that is the FTSE 100. It has dropped back, but the index remains in positive territory, where all that surrounds it are not. Well, if ever you wanted to see a prime example of just how important the oil price is to the direction of the index, then today is just that. You see the more than 5% spike higher in oil prices now today has come to support the FTSE 100, as of course it is the index with the most heavily populated number of oil based stock components. This is the only reason the FTSE is not lower right now, currently trading around 30 points above where it closed yesterday
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