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Futures Stabilise, Energy Names Strong

EQUITIES

After yesterday's (very) modest pullback in US stocks, futures markets have stabilised well, with the e-mini S&P indicating a muted, but positive, open at the Wall Street opening bell later today. Across Europe, the picture is more mixed. Spain's IBEX-35 outperforms, up around 0.4%, while UK, French markets lag.

Energy names are trading well, with the sector rallying smartly early Tuesday on the continued uptick in WTI and Brent crude prices. Both oil contracts hit new cycle highs Tuesday, marking the best levels for close to a year.

US quarterly earnings season kicks off again this week, with big banks taking focus - JPMorgan, Citigroup and Wells Fargo all cross on Friday.

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