LIVE MARKETS-Europe before the bell: futures flat but STOXX heads for monthly gain

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EUROPE BEFORE THE BELL: FUTURES FLAT BUT STOXX HEADS FOR MONTHLY GAIN

European futures are heading for a flat open on Friday but the benchmark remains on track for a healthy monthly gain of 3.9% and a weekly gain of 0.5% after a rollercoaster week.

A federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday, a day after a U.S. trade court ruled that Trump had exceeded his authority in imposing the duties and ordered an immediate block on them.

Euro STOXX 50 futures STXEc1 are flat, as are DAX futures FDXc1, meanwhile FTSE FFIc1 futures are outperforming, up 0.3%.

In company news, Italian gas grid operator Snam SRG.MI said on Thursday it had launched an accelerated book building process to sell up to 83.6 million out of a total 109 million option rights related to Italgas' IG.MI capital increase.

Elsewhere, U.S. semiconductor design software firm Synopsys SNPS.O has told staff in China to halt services and sales in the country and stop taking new orders to comply with new U.S. export restrictions, according to an internal letter reviewed by Reuters.

A Reuters poll showed on Friday China's factory activity likely contracted for a second month in May.

(Lucy Raitano)

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