LIVE MARKETS-Europe before the bell: futures signal pain ahead

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EUROPE BEFORE THE BELL: FUTURES SIGNAL PAIN AHEAD

European stocks are headed for drops at the open, as recession fears ratchet up, following comments by President Donald Trump that tariffs would essentially cover all countries, with two days until April 2 when he has promised to unveil a massive tariff plan.

Euro stoxx 50 futures are down 1.1% STXEc1 while DAX futures FDXc1 are off 1% and FTSE futures FFIc1 are 0.7% lower.

The moves downward echo steep slides that closed Wall Street Friday, when the S&P 500 .SPX fell 2% and the Nasdaq fell 2.6%.

In company news, Associated British Foods ABF.L said the boss of its Primark clothing business, Paul Marchant, has resigned with immediate effect. Pre-market indicators from traders see the shares falling 2% at the open.

Sweden's Fortnox said its largest owner First Kraft and private equity group EQT had made a joint cash offer for the accounting software firm, valuing it at around 55 billion crowns ($5.51 billion).

Elsewhere, German retail sales rose more than expected in February data showed on Monday.

As Q1 comes to a close, there's a lot to look back on in markets so far this year, while investors sense opportunities in a more independent, less U.S.-reliant Europe.

(Lucy Raitano)

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