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Markets Mixed Follow Late Wall Street Weakness

EQUITIES
  • Equity markets across the continent are mixed-to-lower, with sentiment softer from the open given the late sell-off in US stocks on Thursday. Peripheral indices underperform, with Italy's FTSE-MIB leading losses to dip by 1.1%, while the EuroStoxx50 drops 1%.
  • The FTSE-100 is the sole index in the green, with strength across UK bank names (following the Thursday BoE rate hike) prompting outperformance headed into the NY crossover.
  • The e-mini S&P is off around 10 points, rolling off the alltime highs posted on Thursday. The break to fresh all-time highs confirms a resumption of the underlying uptrend and paves the way for a climb towards 4800.00 next. However, the contract failed to hold onto the day's high and attention turns to support at 4589.76, the 50-day EMA. A break would strengthen a bearish threat.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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