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LIVE MARKETS-Europe before the bell: no records here

ReutersJul 1, 2025 6:47 AM

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EUROPE BEFORE THE BELL: NO RECORDS HERE

Another record on Wall Street, and another slightly bland open ahead on Europe has been the mini-theme of the last couple of days, as the excitement in markets shifts back to the western side of the Atlantic.

Euro STOXX 50 futures are up a whisker STXEc1 as are most major national bourses, but none by much. The 'standout' - relatively speaking - are futures on France's CAC 40, up 0.22%. FCEc1

The S&P 500 .SPX and Nasdaq IXIC reached record closing highs on Monday, capping their best quarter in over a year as hopes for trade deals and possible rate cuts eased some investor uncertainty.

With that optimism slowing flows to Europe, where worries about growth and the strong currency are also weighing, the STOXX 600's early lead this year over the S&P 500 is starting to fade.

Company-wise, in Europe, there are a few bits going on, from the latest banking M&A developments to results.

Norway's Equinor EQNR.OL and its partners have approved the 13 billion Norwegian crowns($1.29 billion) investment for the expansion of Johan Sverdrup, western Europe's largest producing oilfield, the company said on Tuesday.

Liquidators seeking to recoup misappropriated funds from Malaysia's sovereign wealth fund 1MDB have filed legal proceedings against Standard Chartered Bank in Singapore STAN.L over the bank's alleged role in enabling fraud that led to over $2.7 billion in financial losses.

Spain's BBVA BBVA.MC said on Monday it would move ahead with its hostile takeover bid for Sabadell SABE.MC despite the government effectively blocking it from fully merging with its smaller rival for at least three years.

Sainsbury's SBRY.L, Britain's second-largest food retailer behind Tesco TSCO.L, said on Tuesday warm weather and market-share growth helped quarterly sales rise more than expected, putting it on track to meet annual forecasts.

(Alun John)

EARLIER LIVE MARKETS POSTS

MORNING BID: UNCERTAINTY DOMINATES ECB FORUM CLICK HERE

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