European Stock Markets See Best Start To Year Since 2013

Jon Alternative Media, Blogosphere, Economy, Market Commentary

European stocks were panic-bid at the open overnight as hungover New Year’s Eve revelers (absent Brits and Swiss who were still on holiday) bought Italian banks, German utilities, and Spanish industrials following the better than expected manufacturing PMIs across most nations. EuroStoxx 50 gained 0.6% – thanks to a spike near the open – for the best open to a year since 2013.
The action was all at the open following a knee-jerk lower in EURUSD (snapping below 1.0500)…

This post was published at Zero Hedge on Jan 2, 2017.