European equities open softer to start the day

News

European stocks see red to kick start the day

  • Eurostoxx -1.0%
  • Germany DAX -1.1%
  • France CAC 40 -1.1%
  • UK FTSE -1.1%
  • Spain IBEX -1.3%

Once again, this partly reflects some catch up to the declines seen in US stocks overnight as European indices closed before the late drop from the Trump announcement on China.

That said, the overall risk mood is still on the defensive as we get things underway with US futures down by 0.5% while bond yields are also softer on the session.

That is keeping the yen underpinned in the major currencies space, while the dollar is weighed lower amid the breakout in the euro and also some talk of month-end rebalancing.

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