LIVE MARKETS-Europe before the bell: On the rebound

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EUROPE BEFORE THE BELL: ON THE REBOUND

European shares are set for punchy gains at the open on Wednesday as markets globally took some relief from a softer tone coming out of the U.S. administration towards both China and Federal Reserve Chair Jerome Powell.

U.S. President Donald Trump on Tuesday said he had no intention of firing Powell, though he did say he would like him to be a 'little more active' in terms of interest rate cuts.

In addition, Treasury Secretary Scott Bessent said he believes there will be a de-escalation in U.S.-China trade tensions, though negotiations with Beijing have not yet started and would be a "slog".

Risk sentiment around the world took a leg higher on those pieces of news, with U.S. share futures rising and Asia stocks up. European equities are set to join the party. Euro Stoxx 50 futures SETXc1 up 1.8% and futures on the China-exposed German index FDXc1 up 2.4%.

European results are also coming in, with a few of note.

Truck maker Volvo VOLVb.ST reported a bigger-than-expected fall in first-quarter profit and lowered its North America truck market outlook, pointing to increased uncertainty around tariffs and their impact on global trade.

Dutch recruiter Randstad RAND.AS on Wednesday beat expectations, citing sequential improvement in the U.S.

(Alun John)

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