LIVE MARKETS-Europe before the bell: Watch rate sensitive sectors

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EUROPE BEFORE THE BELL: WATCH RATE SENSITIVE SECTORS

It could be a muted start to the week in European stocks. At least, that's what futures are suggesting, which is perhaps not surprising given that there's a fairly busy week ahead, most notably with Wednesday's Federal Reserve meeting.

Euro STOXX 50 futures are off around 0.1%, as are FTSE futures.

The bigger excitement is in the bond market, where the benchmark 10 year German Bund yield ticked up a few basis points, but that pushed it to 2.83%, its highest since March. Likewise, the 30-year yield nudged up hit its highest since 2011. GVD/EUR

So that could be going to weigh on rate-sensitive stocks at the open.

Spillovers from Japan's government bond market are largely being blamed for the move higher in Bund yields, but better-than-expected German industrial production data and hawkish comments from influential rate-setter Isabel Schnabel are also in the mix. JP/

A few bits of company news.

Belgian insurer Ageas AGES.BR agreed to buya 25% stake in AG Insurance, giving it 100 percent ownership, for 1.9 billion euros ($2.21 billion) from BNP Paribas BNPP.PA, while German submarine and frigate builder TKMS TKMS.DE provided a muted earnings outlookfor 2026 on Monday,

UBS UBSG.S may cut an additional 10,000 jobs by 2027, Swiss paper SonntagsBlick reported on Sunday, without citing where it obtained the information.

Reaction to that could be muddied by a Reuters report from Friday, citing sources, that the Swiss government is set to water down part of UBS' capital rules.

And finally, the Magnum Ice Cream Company MICC.N is set to finalise its long-awaited spinoff from Unilever ULVR.L on Monday, with an Amsterdam listing. Its reference price was set at reference price was set at 12.80 euros per share.

(Alun John)

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