To be fair, the FTSE has actually had a rather impressive December already, finally climbing back above 7000 last Friday, so it can be forgiven for not drastically building on that level this morning. The index is still flirting with that landmark level, though currently it lacks the kind of momentum that could lead it to a fresh all-time high later in the day. As for the pound, it’s still struggling below 1.25 against the dollar, while against the dollar it has shed 0.2%.
Over in the Eurozone the situation was similar, with the DAX and CAC both dipping after the bell. Like the FTSE the German and French indices have had a very strong December; the DAX, for example, has risen around 800 points since the start of the month, in part thanks to the ECB’s (sort of) QE boost in its most recent meeting.
Data-wise there isn’t much on offer this Monday, the German Ifo business climate number being the most notable. The figure is expected to come in at 110.7, an improvement on November’s 110.4 and the highest reading since mid-2014.