Europe before the bell: Trump tariff jitters weigh
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EUROPE BEFORE THE BELL: TRUMP TARIFF JITTERS WEIGH
European stock markets are set for a fall at the open, after U.S. President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico, and additional tariffs on China, news that sent the dollar up sharply as traders fret about the impact on global trade.
EuroSTOXX50 STXEc1 futures are off 0.6%, while FTSE futures FFIc1 are down 0.3% and DAX futures FDXc1 are ticking 0.4% lower, tracking a drop in Asian stocks.
Pre-market indications from traders see drops of about 2% for some European automaker stocks on the tariff news.
Elsewhere, shares in Swiss pharmaceuticals maker Roche were down in pre-market trading after a study into a lung cancer treatment did not achieve the desired success. The company also announced it will acquire California-based biopharmafirm Poseida Therapeutics PSTX.O.
Eyes will be on Barclays BARC.L after it said it planned to set up a new private banking booking centre in Singapore by 2026.
Elsewhere, Denmark's Orsted ORSTED.CO has launched the sale of a stake in one of the world's biggest wind farms planned off the UK coast, Bloomberg News reported on Monday, citing people familiar with the matter.
Tobacco firms are likely to be in focus, as British lawmakers are set to debate and vote on plans to introduce some of the world's strictest anti-smoking rules.
A survey from the British Retail Consortium has shown prices in British shops fell less sharply this month.
(Lucy Raitano)
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