LIVE MARKETS-Europe before the bell: futures dip as Trump turns on Powell

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EUROPE BEFORE THE BELL: FUTURES DIP AS TRUMP TURNS ON POWELL

European equity futures are heading lower after the long Easter break on Tuesday, after U.S. President Donald Trump repeated his attacks on Federal Reserve Chair Jerome Powell, urging him to cut rates.

The intensifying pressure on the Fed chief, who Trump has signalled he would like out of the job, sent U.S. equity markets tumbling on Monday, with the S&P 500 .SPX down 2.5% and the Nasdaq .IXIC down 2.6%.

"While potential risks to Fed independence had already generated headlines in recent weeks, yesterday's market moves were the clearest sign yet of investor anxiety over the topic," writes Deutsche Bank strategist Jim Reid.

Euro STOXX 50 futures STXEc1 are down 0.4%, while DAX FDXc1, CAC FCEc1 and FTSE FFIc1 futures are off by 0.2% to 0.4%.

In corporate news, Helvetia HELN.S and Baloise BALN.S confirmed on Tuesday they plan to merge, creating Switzerland's second-largest insurance group.

L'Oreal OREP.PA reported a rise in first quarter sales after market on Thursday, beating expectations for slower growth as strong demand in Europe helped counter challenging U.S. conditions.

(Samuel Indyk)

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