Recorded 10:15am GMT / 5:15am Eastern Time
* Europe -1%, off the lows of -2% in lasst 15 mins on no news - futures led rally
* Weakness overnight mix of Eurogroup meeting extension and Gilead drug headlines
* Huge focus on Italy with regard to upcoming S&P review and 2 weeks of waiting for solution on funding
* Equity volumes very low and wider dispersion. Beta undermining on low volumes and credit wider
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