LIVE MARKETS-Europe before the bell: bounce from 14-month lows

ReutersApr 8, 2025 6:56 AM

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EUROPE BEFORE THE BELL: BOUNCE FROM 14-MONTH LOWS

European shares were set for a bounce on Tuesday as investors gauged risks of a recession hitting earnings in the export-oriented region after a tariff shock smashed the STOXX 600 .STOXX down to an over 14-month low.

EuroSTOXX50, DAX and FTSE futures were up 1-2% before the cash market open, helped by hopes there could still be room for negotiations over trade. Nerves over newsflow however remained tense, likely resulting in another day of wild swings.

The European Commission said on Monday it had offered a "zero-for-zero" tariff deal to avert a trade war as EU ministers agreed to prioritise negotiations.

On Monday a gauge of euro zone equity volatility .V2TX was briefly set for its biggest spike since 2008, as the selloff deepened, wiping out as much as $10 trillion off global stocks in three days.

U.S. futures rose around 1% on Tuesday after slight declines on Monday at the end of a roller coaster session.

Meanwhile, China vowed not to bow to "blackmail" from the US as a global trade war ignited by President Donald Trump's sweeping tariffs showed little sign of abating on Tuesday.

Corporate news was relatively thin ahead of the start of first-quarter earnings season, with concerns growing that executives could be forced to ditch previous financial predictions.

(Danilo Masoni)

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