European stocks closed on the lows yesterday but the turnaround in US stocks a day go prompted a catch-up trade:
- UK FTSE 100 +1.3%
- Stoxx 600 +1.8%
- German DAX +1.7%
- French CAC +2.1%
- Italy MIB +1.3%
- Spain IBEX flat
This is a nice bounce but it's far too close to a breakdown for comfort.
