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European Markets Buoyed in Absence of Wall Street Lead

  • Continental stock markets took the lead from a solid close across Asia (Nikkei 225 +1.8%, Hang Seng +1.0%) to trade in positive territory across the Monday session. The EuroStoxx50 outperformed, closing higher by 1.0% while peripheral markets in Spain underperformed slightly, but still closed higher by 0.2%.
  • Europe's technology and consumer discretionary sectors were the main contributors (countering weakness in real estate and utilities) as the likes of Siemens, Christian Dior and LVMH all seeing strength.
  • The e-mini S&P traded positively ahead of the early US close, adding well over 20 points off the post-NFP lows. This puts markets on track for another test of the alltime highs printed on Friday at 4549.50.
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