LIVE MARKETS-Europe before the bell: all about earnings

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EUROPE BEFORE THE BELL: ALL ABOUT EARNINGS

European shares were set for a steady start on Tuesday with a raft of earnings releases likely to dictate price action and give a first taste of the impact of trade tensions on corporate expectations.

There was a sense however that trade newsflow could improve further after U.S. officials said President Donald Trump will move to reduce the impact of his automotive tariffs, providing some relief to global markets.

EuroSTOXX50, FTSE and DAX futures edged up 0.2-0.4%. S&P 500 contracts added 0.1% after slight gains on Wall Street the day before.

Many big European banks reported their latest quarterly reports. HSBC HSBA.L launched a $3 billion buyback, Deutsche Bank DBKGn.DE and BBVA BBVA.MC profits rose 39% and 22.7% respectively, while in Sweden, SEB's SEBa.ST net profit just missed analyst expectations.

Sportswear maker Adidas ADSGn.DE confirmed its guidance but said higher tariffs could lead to higher costs, while luxury car maker Porsche cut its FY outlook, warning of further uncertainty on U.S. tariffs.

Europe's top ammunition maker Rheinmetall RHMG.DE posted a 46% rise in preliminary Q1 sales due chiefly to strength in its defence business, beating market expectations.

Over in the UK, telecoms group BP missed forecasts.

(Danilo Masoni)

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