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EUROPE BEFORE THE BELL: FUTURES FALTER AS TRUMP, JOBS DATA IN FOCUS

European futures are signalling drops at Wednesday's open, with EuroSTOXX50 STXEc1 futures off 0.3%, FTSE futures FFIc1 down 0.1% and DAX futures FDXc1 ticking 0.3% lower.

Market players are still digesting Tuesday's stable U.S. labour market data, which has led traders to reduce bets of U.S. rate cuts in 2025. Investors are waiting for Friday's non farm payrolls data to see if it reinforces or challenges this trend.

Investors are also taking in the latest comments from U.S. President-elect Donald Trump who refused on Tuesday to rule out using military or economic action to pursue acquisition of the Panama Canal and Greenland.

Defence stocks will be in focus after Trump urged NATO members to increase defence spending to 5% GDP.

In company news, Roche ROG.S said it planned to complete its purchase of U.S. biopharmaceutical company Poseida Therapeutics PSTX.O.

UK-listed Flutter FLTRF.L, the world's largest online betting company, has cut its U.S. guidance.

Portuguese oil company Galp Energia GALP.LS said that its CEO has resigned following a company investigation into an anonymous complaint about an alleged personal relationship between him and a company manager.

Elsewhere, Shell SHEL.L is out with a Q4 trading update.

Data showed German industrial orders fell unexpectedly in November, sapped by a decline in large orders, showing that a recovery in the industrial sector is not in sight. Retail sales also slid.

(Lucy Raitano)

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