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Stocks on the Front Foot Early Monday

EQUITIES

Equities across both Europe and the US have started the week constructively, with continental equities higher by by 0.5-1.0% while US futures post similar gains.

The e-mini S&P posted a new record close on Friday at 3582.00 and has progressing from there, adding another 30 or so points pre-open as markets remain on vaccine-watch, with updates from leading candidates from Moderna and AstraZeneca possible this week.

This has supported the reflation trades seen in the wake of the Pfizer release last week, as financials and energy outperform and healthcare, utilities and tech stocks lag.

Notable movers so far Monday include BBVA, Rolls-Royce and IAG (British Airways parent), all of which are higher by 6% or more.

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