LIVE MARKETS-Europe before the bell: Tariff jolt

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EUROPE BEFORE THE BELL: TARIFF JOLT

European shares are set to open lower on Friday after U.S. President Donald Trump slapped steep tariffs on exports from dozens of trading partners including Canada, Brazil, India and Taiwan, pressing ahead with his plans to reorder the global economy.

The fall is much less than on April 2 - Euro Stoxx 50 futures are down around 0.9% - as the U.S has already agreed deals with major trading partners such as the EU, Japan and is in talks with China, but it's still a meaningful shock.

Eyes will be on Swiss stocks at the open after the White House announced a higher 39% tariff on Swiss imports to the United States.

We've also got U.S. nonfarm payrolls data to get through later in the day as well, so it'll be busy.

Earnings are continuing to come in.

British Airways-owner IAG ICAG.L reported better-than-expected second-quarter earnings as it bolstered its transatlantic routes, while Germany's Bayer, alongside its results, said it had set aside an additional 1.2 billion euros ($1.37 billion) in provisions to address ongoing litigation in the United States over weed killer Roundup. BAYGn.DE

Investors in British banks will be watching for the UK's Supreme Court's announcement of a long-awaited ruling on car finance commissions on Friday that could influence whether major banks face a multibillion-pound compensation bill. Close Brothers CBRO.L shares will be in particular focus, as well as British lender Lloyds. LLOY.L

(Alun John)

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