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Continental Markets Play Catch-Up, Gap Higher

EQUITIES
  • Stock markets on the continent are higher, with gains of around 1% for the core European indices. European markets are following the US' lead after the very positive close on Monday, with sentiment persisting overnight as the e-mini S&P holds above 4,000 and touched a new all time high in early Asia-Pac hours at 4,074.50.
  • The UK's FTSE-100 outperforms as GBP trades softer in currency markets. Italy's FTSE-MIB and France's CAC-40 lag slightly, but still hold gains of just over 0.5%.
  • Across Europe, materials and financials are leading gains, with communication services the only sector in the red.
  • Notable outperformers include Volkswagen (higher by over 2% as they rotate to electric vehicles), Banco Santander and Adidas.

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