LIVE MARKETS-Europe before the bell: futures wobble on new tariff threats

Reuters
11 Jul
LIVE MARKETS-Europe before the bell: futures wobble on new tariff threats

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EUROPE BEFORE THE BELL: FUTURES WOBBLE ON NEW TARIFF THREATS

European equity futures are softer on Friday as U.S. President Trump stepped up tariff threats on Canada and warned the European Union would receive its tariff letter later on Friday.

A number of countries, including allies Japan and South Korea, have been informed this week what their tariff level will look like from August 1 unless they cut a deal. Europe looks to be next in line.

Trump also warned he plans to impose a 15-20% blanket tariff rate on most trading partners.

The threats have sent equity futures lower. Euro STOXX 50 futures STXEc1 are down 0.4%. Futures on Germany's DAX FDXc1 and France's CAC FCEc1 are down 0.5% and 0.3% respectively.

Britain's FTSE futures FFIc1 are flat.

In corporate news, Flutter Entertainment FLTRF.L announced it was to buy Boyd Gaming's BYD.N 5% stake in FanDuel for $1.76 billion, securing 100% ownership.

British oil company BP BP.L said its Q2 results will be hit by the lower prices it received for gas and oil.

(Samuel Indyk)

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EARLIER LIVE MARKETS POSTS:

NEW TARIFF DRAMA JOLTS COMPLACENT MARKETS CLICK HERE

Trump announces fresh tariffs https://reut.rs/3U3oY2O

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