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EUROPE BEFORE THE BELL: FUTURES UP AS TRADERS DIGEST TRUMP COMMENTS
European stocks are heading for a positive start to Wednesday, as EuroSTOXX50 STXEc1 futures rise 0.2% and DAX futures FDXc1 add 0.6%, while FTSE futures FFIc1 lag, down 0.04%.
Stock markets are getting a boost after U.S. President Donald Trump announced a private sector investment of up to $500 billion to fund infrastructure for artificial intelligence, with tech names in particular likely to be winners. Shares in Oracle ORCL.N are already up around 9% in Frankfurt, while SoftBank, another partner in the venture, has seen its shares soar 15% in Japan.
Traders are also digesting Trump's latest vow to hit the European Union with tariffs, a day after he took office without immediately imposing any.
Netflix's Frankfurt-listed shares soared over 14% in early trade after the U.S. streaming giant flagged record new subscribers and said it will hike prices.
In European earnings, chocolate maker and cocoa processor Barry Callebaut BARN.S has reported a lower sales volume than expected for its first quarter. Cocoa prices more than doubled in the final three months of last year to hit record highs LCCcv1.
British pub group J D Wetherspoon JDW.L said its like-for-like sales rose 5% in the 25 weeks to Jan. 19, and airline Easyjet EZJ.L reported a smaller operating loss in its first quarter on easing fuel costs and strong passenger demand for travel and its holiday packages.
France's TotalEnergies TTEF.PA has further delayed its $20 billion liquefied natural gas (LNG) project in Mozambique, citing ongoing security concerns, the Financial Times reported on Wednesday.
(Lucy Raitano)
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