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EUROPE BEFORE THE BELL: SHARES SET TO RISE ON TRUMP'S TARIFF STANCE

European shares look set to add to recent gains on Friday, as markets take the lack of concrete action on U.S. import tariffs as a positive.

U.S. President Trump again made robust comments on the tariffs he wants to put in place in a speech via video at the World Economic Forum, but provided no specifics.

Markets have been breathing a sigh of relief as many investors and foreign capitals had expected tariffs to be among a raft of executive orders Trump signed in his first day in office, as promised on the campaign trail.

Euro STOXX 50 futures STXEc1 are up 0.4%, with the index already up 1.3% for the week.

Futures on the DAX FDXc1, CAC FCEc1 and FTSE FFIc1 are up 0.1%-0.7%.

In Asia, Japan's Nikkei 225 .N225 softened 0.1% after the Bank of Japan raised interest rates to 0.5%, their highest in 17 years.

Back in Europe, earnings remain in focus.

British luxury brand Burberry BRBY.L reported a 4% drop in quarterly comparable store sales, versus expectations for a 12% decline.

Europe's four largest companies - LVMH LVMH.PA, Novo Nordisk NOVOb.CO, SAP SAPG.DE and ASML ASML.AS - are all scheduled to report next week.

In M&A, Italy's state-backed lender Monte Paschi BMPS.MI has launched a 13.3 billion euro takeover offer for Mediobanca MDBI.MI.

(Samuel Indyk)

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