LIVE MARKETS-Europe before the bell: we'd forgotten stocks can go down

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EUROPE BEFORE THE BELL: WE'D FORGOTTEN STOCKS CAN GO DOWN

A rare lower open is in prospect for European shares on Thursday, maybe on the latest tariff chatter, maybe a bit of profit taking after a solid first half of the week that helped the STOXX 600 to a fresh record high. Probably a bit of both.

Blue chip STOXX 50 futures are down 0.67&, STXEc1, Dax futures are down a similar amount FDXc1 and more defensive FTSE fuutres are down just 0.22%.

U.S. President Donald Trump on Wednesday floated a 25% "reciprocal" tariff on European cars and other goods, though in a sign there's a long way between tariff talk and actual tariffs, Trump raised hopes for another month-long pause on steep new tariffs on imports from Mexico and Canada.

In terms of company news, London Stock Exchange Group LSEG.L said its annual income for 2024 rose 8.4%, and was slightly ahead of analysts' expectations. Italian energy group Eni ENI.MI said its fourth-quarter adjusted net profit fell 46%, and Mercedes-BenzMBGn.DE and its subsidiaries plan to cut up to 15% of their workforce in China, Bloomberg News reported.

Reinsurance company Swiss Re SRENH.S said that claims from wildfires in Los Angeles would be less than $700 million and would impact its first quarter results, the latest European reinsurer to disclose a hit from the January blaze.

French insurer AXA AXAF.PA reported better-than-expected full-year earnings, avoiding the worst of the claims.

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