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Airlines Slip as UK Re-Opening Plans Knocked Back

EQUITIES
  • Stocks have started the week well, with mainland indices higher by 0.2-0.6% as US futures are similarly in the green. Similarly, US futures are in the green and are indicating a positive open on Wall Street later today.
  • The e-mini S&P has hit a new alltime high overnight, with a print of 4256.75. The break higher also exposes 4300.00 next. Initial firm support is at 4155.00, Jun 3 low. The broader medium-term trend support is at 4020.00, May 13 low.
  • Across Europe, the energy and tech sectors are outperforming, with strength in crude benchmarks helping buoy oil & gas names. Consumer staples and materials names are the laggards, but both still reside in positive territory.
  • UK airlines are among the poorest performers following reports of a four-week delay to the UK's economic re-opening plans. The likes of IAG, Ryanair and easyJet are all lower by 1.5% or more.
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