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European Markets Soft Early Friday

EQUITIES

Continental stock markets are softer Friday morning, with UK names underperforming (FTSE-100 lower by ~0.7%) while Italian stocks rebound and are one of the sole indices in the green so far.

A pullback in commodities this morning is leading the materials sector lower in the Stoxx 600, with real estate and industrials also weak. Healthcare and financials are sources of strength, with both sectors holding above water.

In the US, futures are off, with the e-mini S&P down around 10 points pre-open. Focus turns to looming earnings reports from Wells Fargo, Citigroup and JPMorgan later today.

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