LIVE MARKETS-Europe before the bell: An unsettled start as Trump-Powell rift escalates

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EUROPE BEFORE THE BELL: AN UNSETTLED START AS TRUMP-POWELL RIFT ESCALATES

European traders are waking up to the news that Trump is threatening to indict Fed Chair Powell over a building renovation project, a move that Powell has called a "pretext" to gain more influence over the Fed and interest rates.

The latest escalation between the two has reignited the debate about the Fed's independence at a time when Trump is calling for lower interest rates.

The rift has sent the dollar =USD and U.S. equity futures EScv1, NQcv1 lower in early European trade, although European stock futures are broadly steady.

Euro STOXX 50 futures STXEc1 are little changed, while those on the DAX FDXc1, CAC FCEc1 and FTSE FFIc1 are down 0.1%-0.2%.

Key personnel changes are dominating the newsflow for European companies this morning.

Heineken's HEIN.AS CEO Dolf van den Brink is to step down after six years at the helm. British Land BLND.L is also losing its CEO, Simon Carter, as he moves to become CEO of logistics real estate firm P3 Logistics Parks.

(Samuel Indyk)

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