European equities open higher to start the day

  • The positive open belies the underlying market sentiment though
  • Eurostoxx +1.0%
  • Germany DAX +1.1%
  • France CAC 40 +0.8%
  • UK FTSE +1.0%
  • Spain IBEX +1.4%

The gains here are in part to a catch up play to the gains in Wall Street yesterday, which largely came after the European close. The current market mood is less optimistic with US futures turning lower and lurking towards the lows for the day. S&P 500 futures are down 0.2% and we are seeing the dollar gain a bit more ground on the session as well.

As such, the optimistic mood above may not be as evident if the risk mood elsewhere are showing more material signs of weakness later on.

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