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Europe Bounces Sharply From Last Week's Lows, Cyclical Names Lead Gains

EQUITIES
  • Asian markets closed stronger in a follow-through from the US equity rally late last week: Japan's NIKKEI up 379.3 pts or +1.43% at 26871.27 and the TOPIX up 20.7 pts or +1.11% at 1887.42. China's SHANGHAI closed up 29.438 pts or +0.88% at 3379.185 and the HANG SENG ended 510.46 pts higher or +2.35% at 22229.52.
  • European equities are stronger, with consumer discretionary and tech names leading the way: German Dax up 149.5 pts or +1.14% at 13267.83, FTSE 100 up 53.63 pts or +0.74% at 7262.4, CAC 40 up 42.12 pts or +0.69% at 6115.68 and Euro Stoxx 50 up 32.91 pts or +0.93% at 3566.6.
  • U.S. futures continue to rise, with the Dow Jones mini up 98 pts or +0.31% at 31585, S&P 500 mini up 17.75 pts or +0.45% at 3934, NASDAQ mini up 73.5 pts or +0.61% at 12214.5.

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