LIVE MARKETS-STOXX up but heading for biggest weekly drop in 3 months

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STOXX UP BUT HEADING FOR BIGGEST WEEKLY DROP IN 3 MONTHS

Europe's STOXX 600 .STOXX is trading higher on Friday but is still heading for its biggest weekly drop since mid-December on concerns Trump's trade policies will impact global growth.

The pan-continental benchmark is rebounding on Friday, up 0.5%, but is still down almost 2% for the week, its second straight weekly decline.

One sector that remains on the front foot is aerospace & defence .SXPARO, which is leading gainers again on Friday. The sub-index is up 30% year-to-date and is heading for a near 2% rise this week on expectations of a huge increase in military spending from Europe.

Consumer sectors such as retail .SXRP and travel & leisure .SXTP are up on Friday but lagging this week, down 5.6% and 4.4%, respectively.

In corporate news, Kering PRTP.PA shares are down over 13% after the luxury group's struggling Gucci brand announced Demna as its new artistic director.

In banking news, UniCredit CRDI.MI has been given approval by the European Central Bank to buy up to a 29.9% stake in Germany's Commerzbank CBKG.DE, but the Italian lender said it would likely wait until next year before deciding whether to pursue an acquisition.

Here's your opening snapshot:

(Samuel Indyk)

FRIDAY'S OTHER LIVE MARKETS POSTS:

EUROPE BEFORE THE BELL: FUTURES HIGHER, STOCKS STILL SET FOR WEEKLY LOSS CLICK HERE

MARKETS COME UP FOR AIR BUT TARIFF THREATS LURK CLICK HERE