Eurostoxx futures +0.2% in early European trading
A slightly more upbeat tone observed in early trades
- German DAX futures +0.4%
- French CAC 40 futures +0.1%
- UK FTSE futures +0.4%
This largely keeps in line with the mood observed in US futures (up around 0.1%) as well as what we're seeing in Asia Pacific trading.
Although the ECB is set to inflict more pain on banks tomorrow - by taking rates deeper into negative territory - the announcement of a rate tiering system is expected to provide some relief for banking stocks.
Looking ahead today, markets look to be slightly more optimistic but I would be wary of any major risk-on run as it may be a sign that market participants are getting too ahead of themselves for the time being.