LIVE MARKETS-Europe before the bell: optimistic markets

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EUROPE BEFORE THE BELL: OPTIMISTIC MARKETS

European equity index futures are rising on Tuesday on signs that the U.S. and Iran were both keen on finding a resolution to the war, even as the U.S. began its blockade of ships leaving Iranian ports.

Dialogue between the two countries was still alive, Reuters reported on Monday, but there are still sticking points, such as transit of the Strait of Hormuz and Iran's nuclear programme.

But markets are growing optimistic that some sort of deal could be reached, helping risk sentiment.

Euro STOXX 50 futures STXEc1 are up 0.5%. Futures on major indexes in Germany FDXc1, France FCEc1 and Britain FFIc1 were flat to up 0.6%.

S&P 500 futures EScv1 are flat after the index .SPX rose 1% on Monday, while stocks rose in Asia-Pac .MIAPJ0000PUS trading overnight.

Away from Iran, France's LVMH LVMH.PA is seen opening lower after the luxury group said the Iran war shaved at least 1% from group sales in the last quarter due to lower spending in the Gulf.

On the other hand, British energy giant BP BP.L said on Tuesday it expects its oil trading desk to post exceptional first quarter results, signalling a windfall from higher energy prices due to the Middle East war.

(Samuel Indyk)

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