LIVE MARKETS-Europe before the bell: Deal time

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EUROPE BEFORE THE BELL: DEAL TIME

Is Britain a "big and highly respected country"?

U.S. President Donald Trump says he'll be signing a trade deal with such a country later today, and the New York Times reports it's Britain.

UK assets are slightly outperforming European peers of the open with FTSE futures up 0.57%, FFIc1 a fraction ahead of Dax FDXc1 and CAC40 futures, FCEc1 while the euro is down 0.14% on sterling at 84.93 pence. EURGBP=D3

The fact that a deal is coming at all is probably more important for markets than with which country it is, recent weeks' rebound on hopes tariffs would be largely negotiated away has been looking a bit shaky.

And so that's why the mood is positive across the board.

Also in Britain there's a Bank of England policy decision, a 25-basis point rate cut is widely expected, while, in terms of company news, there's still a good amount of results coming in.

Highlights include, shipping group A.P. Moller-Maersk MAERSKb.CO lowering its global container market forecast for this year due to increased economic and geopolitical uncertainty, although it left its profit outlook unchanged, and Anheuser-Busch InBev ABI.BR reporting a 7.9% rise in first-quarter operating profit, beating analysts' estimate by more than double.

Power equipment maker Siemens Energy ENR1n.DE said it expected a limited hit to profits from U.S. tariffs, citing price increases for new orders, and Sabadell SABE.MC raised its shareholder payout target for 2024 and 2025, as it seeks to resist a takeover attempt by BBVA. BBVA.MC

(Alun John)

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