[MARKET ANALYSIS] European bourses are trading firmer, amid light newsflow

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UK S&P Global Manufacturing PMI (Dec) 50.6 vs. Exp. 51.2 (Prev. 51.2)

Iranian Advisor Larijani says the US should know that interference in the Iranian protesting issue would be equivalent to chaos across the entire region

[MARKET ANALYSIS] European bourses are trading firmer, amid light newsflow

EU Money-M3 Annual Grwth* (Nov) 3.0% vs. Exp. 2.7% (Prev. 2.8%)

EU Loans to Non-Fin* (Nov) 3.1% (Prev. 2.9%)

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  • European bourses have started the new year on a strong footing, with gains across all major indices in relatively light newsflow. The morning's final PMIs from the EZ have had little impact on price action, UK figure is due shortly.
  • European sectors have also opened firmer, led by Basic Resources (+1.7%), Technology (+1.8%), and Energy (+1.7%). Basic Resources is supported by higher metal prices, with gains in gold and copper. Technology is benefiting from positive pre-market performance in the Nasdaq, while Energy is firmer despite pressure in the crude complex but as European gas benchmarks are bid, but off highs. On the downside, Food Beverage & Tobacco (-0.3%), Real Estate (-0.3%) and Construction (-0.1%) lag. 
  • Movers include Casino (+15.5%), with the Co. gaining after announcing the disposal of the BAO Cash & Carry business, in Cameroon. Evotec (+2.7%) is another winner after Co. appoints Dr. Sarah Fakih as Executive Vice President, Head of Global Communications and Investor Relations.
  • US equity futures are firmer in the pre-market with upside in all major indices, with the NQ (+0.9%), the key outperformer.

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