Minor gains belie the more cautious risk sentiment in early trades
- German DAX futures +0.3%
- French CAC 40 futures +0.3%
- UK FTSE futures +0.1%
Don't be deceived by the gains we're seeing in early trades here. European equities slumped into the close yesterday, failing to partake in the late gains posted by US equities overnight so this is more of a "balancing" or "catch-up play" to the moves there.
US futures are down by 0.3% currently and overall risk sentiment remains more defensive to start the European morning. I wouldn't be surprised if the mild gains here evaporate over the next few hours.