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European equities are bouncing Friday,.....>

EQUITIES
EQUITIES: European equities are bouncing Friday, with continental bourses up
around 1-2%. France's CAC-40 outperforms while the UK's FTSE-100 posts the
shallowest recovery. 
- On a sectoral basis, roles have reversed, with yesterday's weakest performers
(namely energy, consumer discretionary and financials) at the top of the board
early Friday whereas defensives are weakest, with healthcare the sole sector in
the red. This is mirrored in individual best/worst performers as Cineworld,
Carnival, easyJet and Deutsche Lufthansa are up sharply.
- The closely watched Eurostoxx Bank Index has erased around half of yesterday's
losses, but remains well below the week's best levels.
- US futures are similarly positive, indicating a higher cash open later today,
although they trade rich on fair value basis. The e-mini S&P has bounced off
200-dma support at 3012.00 and now eyes resistance at 3085.92 and the 50%
retracement at 3113.63.

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