Cautious equity rebound continues
STOXX 600 up 0.3%
France shares eke out gains
Carrefour tumbles
Wall St futures mixed
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CAUTIOUS EQUITY REBOUND CONTINUES
European equity markets are rising for a second day on Tuesday after tumbling the week before on French election risk.
The pan-European STOXX 600 .STOXX is up 0.3%, adding to Monday's 0.1% gain following a 2.4% slide last week.
French stocks, which bore the brunt of last week's European equity sell-off, are rising 0.1% following a 0.9% jump on Monday.
"A portion of the recent risk off moves have been driven by fears of 'Frexit' and euro area breakup," says Jefferies chief Europe economist Mohit Kumar in a note to clients.
"In our view, those fears are overblown, and we would be fading the fear-driven moves."
One sector where fear had taken hold was Europe's banks .SX7P, which fell 5.5% last week. The index is up 0.9% on Tuesday after a 1% rise on Monday.
In corporate news, Carrefour CARR.PA shares are falling over 8% to their lowest since November 2020 after reports that the French finance ministry wants to issue a 200-million euro fine for management of its franchise network.
Here's your opening snapshot:
(Samuel Indyk)
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TUESDAY'S OTHER LIVE MARKETS POSTS:
EUROPEAN STOCKS POISED TO REBOUND FURTHER CLICK HERE
ALL ABOUT RATES CLICK HERE
Euro zone, French stocks suffer from political uncertainty https://reut.rs/3Rwubzw
Europe bounces for second day https://reut.rs/3z7wQJC
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