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EUROPE BEFORE THE BELL: FUTURES TICK UP AS TRADERS EYE EASING US-CHINE TENSIONS

European futures are signalling rises at the open as traders eye signs of the U.S. and China potentially pulling back from their trade war, with some positive U.S. big tech results also sweetening the mood.

Euro STOXX 50 futures STXEc1 are up 0.5% while futures on the DAX FDXc1 are rising 0.3% and FTSE FFIc1 are up 0.1%.

China is considering exempting some U.S. imports from its 125% tariffs and is asking businesses to identify goods that could be eligible in the biggest sign yet that Beijing is worried about the economic fallout from its trade war with Washington.

Rises in European shares would track Wall Street's Thursday gains, when the Dow Jones closed 1.4% higher and the Nasdaq added 2.8%. A revenue estimate beat from Google parent Alphabet after hours is helping Nasdaq futures, which are up nearly 0.7%.

Alphabet shares rose in Frankfurt ABEA.F in early trade on Friday while Intel INTC.F shares dropped 4% after it issued downbeat forecasts for both revenue and profit the day before.

European earnings are keeping market watchers busy, among them is French jet engine maker Safran SAF.PA which reported a stronger-than-expected rise in first-quarter revenues on Friday.

Elsewhere, Spain's competition watchdog CNMC is set to approve BBVA's BBVA.MC proposed acquisition of rival Sabadell SABE.MC as early as next week, two sources with knowledge of the matter told Reuters, potentially clearing another hurdle in the long-running hostile takeover bid.

(Lucy Raitano)

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