After the big fall of the British banks, the oil companies have much more influence on the FTSE 100. This means that the $ against the £ and oil prices set the tone on the index.

Today the oil jumped 9% and the GBP/USD is 1.41 if the oil and the $ can keep this level I would say that the FTSE 100 can go back to 4000 mark very quickly. And in my opinion the oil price on the long run will go up. After all as far as I know it is the most needed commodity and although the green revolution there isn’t any decent substitute to the black oil. So perhaps the FTSE 100 is not all gloom and doom after all.