European equities start the day in a better mood, in search of fifth day of gains
Tech stocks lead the charge, buoyed by the advance in Nasdaq futures
- Eurostoxx +0.7%
- Germany DAX +1.0%
- France CAC 40 +0.8%
- UK FTSE +0.5%
- Spain IBEX +0.7%
The mood here largely reflects the optimism seen in Wall Street yesterday, with US futures surging once again today. S&P 500 futures are up 1.4% while Nasdaq futures are up 2.1% as we get the session underway.
After the meltdown in the first-half of last week, European indices are bouncing back rather strongly over the past five sessions:
The ECB's pledge from last week to do more in December is part and parcel of that but it is tough to ignore the ongoing pessimism surrounding the virus situation in Europe. The big fear is that if tighter restrictions will have to be prolonged into the new year.