Modest gains in early trades in Europe

  • German DAX futures +0.7%
  • UK FTSE futures +0.9%
  • Spanish IBEX futures +0.8%

This in part owes to some catch-up play to yesterday, where US equities finished strongly whereas European indices were dragged lower.

That said, keep in mind that US futures are keeping lower to start the new day so that might lend itself to a more cautious mood for European equities later in the day.