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Europe Leads Stock Bounce, With Energy Names on Front Foot

EQUITIES
  • Stocks are uniformly higher across the continent, with Spain's IBEX-35 (notably the worst performer on Tuesday) at the top of the pile. Oil & gas names are leading the rally, with WTI and Brent crude's 5% daily gain flattering margins and fueling solid gains. Financials also trade better following the rout in bank names after Fed chair Powell's testimony on Tuesday.
  • In futures space, the e-mini S&P is higher by just over 1%, but all three major indices are indicating a higher open in a few hours' time. The index sits between the week's extremes of 4557.00 and 4669.75, which mark immediate targets on the way higher or lower.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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