LIVE MARKETS-Before the bell: futures rise, semis eyed, Richemont beats

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BEFORE THE BELL: FUTURES RISE, SEMIS EYED, RICHEMONT BEATS

European futures on Thursday pointed to a possible extension of the region’s record-breaking run as crude and precious metals eased and investors rotated out of some of last year’s winners, including U.S. tech and defence stocks.

Forecast‑beating results from TSMC 2330.TW, the world’s biggest producer of advanced AI chips, added to the upbeat mood and could lift ASML ASML.AS and other European semiconductor names. ASML rose over 4% on Tradegate.

Also helping sentiment were strong numbers from Cartier-owner Richemont CFR.S which topped sales growth expectations as demand for high-end jewellery stayed firm and China improved.

EuroSTOXX50 .STOXX50E futures hovered at record highs, up 0.6%, while UK FTSE 100 .FTSE futures hit a new peak before trimming gains after stronger‑than‑expected November GDP data drove the pound off lows.

U.S. futures pointed to a slightly positive open on Wall Street after Wednesday’s lower close driven by weakness in tech and banks, even as earnings from Citigroup C.N and Bank of America BAC.N beat forecasts.

Elsewhere, Morgan Stanley upgraded Nokia NOKIA.HE to "overweight", saying the Finnish group is emerging as a “leaner company with underappreciated exposure to data‑centre growth”.

Italian banking M&A chatter continued. Il Sole 24 Ore reported that UniCredit CRDI.MI and Delfin could meet as early as this weekend to discuss the latter's 17.5% stake in Monte dei Paschi BMPS.MI.

UK homebuilder Taylor Wimpey TW.L warned of a decline in 2026 operating profit margin.

(Danilo Masoni)

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