European indices are modestly higher.......>

EQUITIES: European indices are modestly higher ahead of the NY crossover, with

core markets up 0.2-0.3%. French stocks underperform, with the CAC-40 the sole

index in the red. US futures are mixed, with Dow Jones futures and e-mini S&P

indicating a positive open today, while the NASDAQ trades in the red.

- In Europe, cyclical industrials, materials and financials are the strongest

performers today, while real estate and consumer staples are at the bottom of

the table.

- Volatile travel names are having a mixed session, with TUI AG, easyJet and

Ryanair trading particularly well (gains of circa 3% apiece) while Deutsche

Lufthansa and Carnival are among the hardest hit today.

- E-mini S&P opened at multi-week lows in Asia trade (lowest since Jun 15), but

markets have since recovered with the 50-dma providing some early support at

2,979.01 to stage a bounce back above 3,000. 3,048.17 provides some resistance

from here, marking the 38.2% retracement for the May - June sell-off.