Continental European indices are all.......>

EQUITIES: Continental European indices are all higher one hour in, with all

markets higher by 1% or more. Italian, Spanish markets are surging, with UK and

French stocks following. US futures are leading, with the e-mini S&P hitting new

weekly highs today at 3,126 and narrowing the gap with recovery highs at

3,231.25.

- All sectors in Europe trade higher early Thursday, with cyclicals on the front

foot (financials, consumer discretionary and real estate are outperforming)

while defensive names are posting shallower gains, with healthcare and consumer

staples up just 0.2-0.6%.

- Airlines are among the best individual performers in Europe today, with

easyJet and International Consolidated Airlines Group higher by over 4%.

Peripheral European banks are also reflecting tighter EGB bond spreads early

Thursday. Santander, Banco de Sabadell and BBVA are all up around 5% apiece.

- Moves come ahead of today's NFP release, with markets possibly positioning for

a better number given the sharp upward revision in ADP report yesterday.