Europe before the bell: futures down despite US-China talk hopes

EUROPE BEFORE THE BELL: FUTURES DOWN DESPITE US-CHINA TALK HOPES

European futures are hinting as losses on Monday as some less than stellar Chinese trade data dampens the mood, though there is tentative optimism ahead of talks between the U.S. and China set for Monday in London.

Euro STOXX 50 futures STXEc1 are down 0.2% while futures on the DAX FDXc1 are off 0.1% and FTSE FFIc1 futures are flat.

Staying in focus is British water utility Thames Water, with Bloomberg News reporting on Friday that U.S. investment firms Silver Point Capital and Elliott Management are formulating a 10-billion-pound-plus ($13.53 billion) rescue package.

Elsewhere, French auto maker Renault RENA.PA said on Sunday the country's defence ministry has approached it with a view to helping to manufacture drones, after the ministry last week floated the idea French companies could help with production in Ukraine.

Struggling British cosmetics company Revolution Beauty REVB.L said on Monday billionaire Mike Ashley's Frasers Group FRAS.L is among several parties conducting due diligence for a potential takeover.

In data, figures on Monday showed China's factory-gate deflation deepened to its worst level in two years.

Markets got a lift on Friday after U.S. non-farm payrolls came in above expectations.

(Lucy Raitano)