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EUROPEAN OPTIMISM

European shares have posted decent gains in early trading but unlike earlier in Asia where it was tech names to the fore, it's energy and broader economy-exposed sectors like travel and leisure, miners and banks that are leading the charge.

Also top of mind is Novo NordiskNOVOb.CO, up 7.4% after its results. While its market cap may not be as big as it was a few months ago, it's still a big beast.

The broad STOXX 600 is up 1.5% .STOXX with miners .SXPP up 3.88%, banks 2.5% higher .SX7P and travel and leisure 1.9%. higher. SXTP

Driving the optimism is another fall in Brent now down to $106.5 a barrel, as traders, once again, convince themselves that some sort of deal to get ships passing through the Strait of Hormuz could happen. O/R

There are a raft of other earnings out. In addition to Novo, other gainers include BMW BMW.DE, up 4.6% and Diageo DGE.L, up 4.3%.

(Alun John)

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EARLIER LIVE MARKETS POSTS

EUROPE BEFORE THE BELL: TECH SURGE, EARNINGS POINT TO OPENING GAINS CLICK HERE

MORNING BID: STOCKS SURGE IN SEOUL AS SAMSUNG SURPASSES BERKSHIRE CLICK HERE