LIVE MARKETS-Before the bell: more trade uncertainty, Polish vote

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BEFORE THE BELL: MORE TRADE UNCERTAINTY, POLISH VOTE

European shares were set to start June on the back foot as oil prices rose on after OPEC+ unveiled an output hike that was in line with expectations and markets remained gripped by trade policy uncertainty after a fresh U.S. threat to double steel and aluminium tariffs.

Poland was in the spotlight too after eurosceptic Karol Nawrocki's presidential election victory, just as traders prepared for the European Central Bank's policy meeting on Thursday and U.S. payrolls data the day after.

EuroSTOXX50 and FTSE futures were down 0.1-0.5%, while S&P 500 contracts fell 0.5% after Friday's choppy session on U.S. President Donald Trump's comments on a trade deal with China.

ArcelorMittal MT.LU and other steel stocks were called lower on Trump's fresh tariff threat, while Polish-exposed stocks like banks ING INGA.AS and Commerzbank CBKG.DE were also eyed.

Finally, there was a significant M&A deal with Sanofi SASY.PA agreeing to buy U.S.-based Blueprint Medicines BPMC.O for $9.1 billion.

(Danilo Masoni)

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