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US Futures Narrow Gap With Alltime Highs

EQUITIES

Despite a wave of profit-taking into the November close, European equities enjoyed a stellar November, with numerous indices on the continent enjoying their best month for decades, if not ever. December has started well, with gains of 0.3-2.0% seen across Europe, with UK stocks outperforming, while peripheral European markets trade well, but with shallower gains.

Energy names are outperforming (after being the poorest performer yesterday) with financials and materials not far behind. Defensive healthcare and utilities sectors lag so far today.

In US futures space, all three major US markets are higher, with E-mini S&P extending the recovery off Monday's low of 3592.25 to trade within five points of the alltime highs printed on November 9th at 3668.00.

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