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European Markets Uniformly Higher, In Lockstep with US Futures

EQUITIES

European equity markets opened positively Wednesday, moving in lockstep with US futures, which indicate a higher open on Wall Street today.

Continental indices are higher by 1.5-2.3%, with consumer discretionary and financials among the best performers after both sectors slipped sharply earlier in the week. Individual outperformers include Rolls-Royce, Carnival and UK homebuilders, all of which trade with gains of 5% or more (albeit after hitting multi-month lows earlier this week).

The e-mini S&P is off the overnight highs of 3319.75 but remains better by over 10 points ahead of NY hours.

Focus turns to the speaker schedule today, with no fewer than 8 Fed members on the docket, most notably Fed chair Powell who speaks at 1500BST/1000ET.

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