After the most awaited snowfall in London yesterday and Europe opening in the green this morning, a mixed set of news killed the positive sentiment pretty quickly. Equities managed to trade quite steady all morning but have ran out of steam by now (SXXP -0.7%, down -1.3% from its intra-day high). Defensives have been outperforming Cyclicals all day with Healthcare and Technology leading the way. Travel & Leisure amongst the main laggards (-2.0%). Lockdown news not helping the case with the UK thinking on imposing an Australia style hotel quarantine when entering the country and France likely to impose a lockdown in the next couple of days. Keep watching the SX5E – getting closer to its support level of 3524 (3565 last).
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