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European Weaker into the Close, US Outperforms

EQUITIES

Continental European markets erased a good start (initially triggered by AstraZeneca's vaccine results) to finish marginally lower on the day. Catalysts for weakness into the close were thin on the ground, but varied from reports that Trump could be taking a more combative stance on China, better PMI data softening the case for more Fed easing and overriding USD strength all adding some weight.

US markets outperformed modestly, with energy and financials at the top of the table, while healthcare, tech and communication services dragged.

The e-mini S&P traded in a range, with 3542.25 first support, while last week's highs of 3637 remain the upside target.

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