Turnaround Tuesday is particularly.........>

EQUITIES: Turnaround Tuesday is particularly evident in the Stoxx 600 in Europe

today. At some points on Monday just 3 of the 600 stocks in the index were

trading higher, but today just 7 are trading lower.

- Airlines and travel firms are seeing the most material bounce, with TUI AG,

IAG, easyJet and Carnival among the session's biggest gainers as they benefit

not only from the bounce but also the lack of a recovery in crude oil prices.

- This has seen EuroStoxx index volatility retreat well below yesterday's highs

- although it's still printing either side of 45, considerably higher than the

long-term average.

- US futures are indicating a higher open on Wall Street Tuesday, and the e-mini

S&P sits just below yesterday's highs. Markets may have to wait a little longer

to push through any further rally, however, with CME's +5% limits kicking in at

2,879.