LIVE MARKETS-Before the bell: MAG7 mixed, big earnings day in Europe

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BEFORE THE BELL: MAG7 MIXED, BIG EARNINGS DAY IN EUROPE

The first batch of "Magnificent 7" earnings on Wall Street delivered mixed price reactions with a disappointing cloud outlook hitting Microsoft MSFT.O shares, while Meta META.O and Tesla TSLA.O both rose following their latest numbers.

Nasdaq futures however kept steadying after the DeepSeek rout this week that challenged the market dominance of Nvidia NVDA.O and other AI darlings. They rose 0.6% in European hours.

Stability in the tech space, coming after the Federal Reserve kept interest rates unchanged as expected, set the scene for a steady open in Europe, just ahead of likely cut by the European Central Bank later on.

EuroSTOXX50 futures rose 0.3% and FTSE contracts fell X%.

It was heavy earnings day in Europe too.

Deutsche Bank DBKGn.DE kicked off the reporting season for big banks in Europe. The German lender reported a bigger-than-expected drop in Q4 profit as legal provisions and restructuring costs eroded revenue gains at its global investment banking division.

In Spain, BBVA BBVA.MC saw a 18% rise in quarterly net profit thanks to a solid domestic performance. Lending income at Caixabank CAKB.MC came under pressure, but the bank sweetened the pill with a new share buyback programme worth 500 mln euros.

Swatch UHR.S, the STOXX 600 most-shorted stock, reported a fall in sales and profit, as improvements in the United States and Japan failed to offset a steep downturn in China.

In the UK, Shell SHEL.L reported a smaller fourth-quarter profit and said it would buy back shares worth $3.5 billion.

Earnings also from Roche, H&M, BT, Nokia, STMicro, Generali and ABB.

Airlines were eyed too. Many were feared dead after an American Airlines regional passenger jet and a U.S. helicopter collided and crashed into the Potomac River near Reagan Washington National Airport on Wednesday night, officials said.

(Danilo Masoni)

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