LIVE MARKETS-Europe before the bell - Ukraine peace talks top of mind

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EUROPE BEFORE THE BELL - UKRAINE PEACE TALKS TOP OF MIND

European shares are set for a jump at the open after U.S. President Donald Trump said both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy have expressed a desire for peace and ordered top U.S. officials to begin talks on ending the war in Ukraine.

Stoxx 50 blue chip futures are up over 1%, German DAX futures are 1.35% higher, FDXc1, STXEc1 and the euro EUR=EBS is also up around 0.5%.

Eyes will be on companies seen as particularly benefiting from peace, such as gas price-sensitive chemical names, as well as the big defence firms who could take a hit.

Britain's FTSE, with its oil and gas names and generally defensive nature, is set to lag, futures are up 0.1%. FFIc1 Also in the mix in Britain is data showing Britain's economy grew by 0.1% in the final quarter of last year compared to the 0.1% fall expected by economists.

That helped the pound to gain, also mitigating the effect on British large caps. GBP/

There is a raft of earnings as well, and here are some highlights.

Starting with banks, Commerzbank CBKG.DE said on Thursday it would cut 3,900 jobs and unveiled more ambitious financial targets, and Barclays BARC.L reported a 24% rise in annual pretax profit on Thursday, slightly above expectations.

Elsewhere, Siemens SIEGn.DE reported better than expected profit, despite continued struggles at its factory automation business, while Nestle NESN.S reported slightly better-than-expected annual sales growth on Thursday.

(Alun John)

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