Softer tones observed at the cash market open
- Eurostoxx -2.6%
- Germany DAX -2.8%
- France CAC 40 -3.0%
- UK FTSE -0.5%
- Spain IBEX -2.7%
Just be reminded that besides the UK FTSE, other European indices were closed on Friday in observance of Labour Day. Hence, there is some element of catch-up play here after having seen US stocks fall by nearly 3% at the end of last week.
Risk sentiment is still on the defensive as we start the session but US futures have recovered some ground. S&P 500 futures are now down by 0.5% to 2,808 after having been down as low as 2,775 in Asia Pacific trading earlier.
