European Banks Race Higher in Early Trade

European markets are up and running, with most indices higher by 2.0%. Gains are to be found most in the banks, with extensive priority being placed in the shares of ING (+5.7%), Unicredit (+5.5%), Socgen (4.5%), BNP Paribas (+4%), Commerzbank (+5%) and Deutsche Bank (+4.3%).

U.S. markets are closed today, in observance of President’s day. Nonetheless, futures traders are bidding up the markets with vigor, suggesting an opening of +160 to the Dow and 43 for the NASDAQ.

Gold is being sold, broadly, off by 2.1%–counteracting the gains found in equities. Conversely, copper is higher by 2.7% and  oil is essentially flat.

For the time being, it appears the menace from the east has been placed at bay, and risk assets are fashionably being acquired by managers with ground to make up.