LIVE MARKETS-Europe before the bell: Futures rise, tech jitters ease

By Reuters News

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EUROPE BEFORE THE BELL: FUTURES RISE, TECH JITTERS EASE

European equity futures are mostly higher on Friday as the selloff in technology stocks in Asia eased, providing some relief for broader markets.

Euro STOXX 50 futures are up about 0.5%, after the index fell slightly on Thursday.

Futures on the DAX and CAC are up about 0.4%, while FTSE futures are down 0.2%.

In Asia, Japan's Nikkei 225 .N225 and South Korea's Kospi .KS11 were up 1.4% and 1.8%, respectively, although the latter was still down 14% for the week.

Europe has been more immune to the recent technology selloff, given its relatively smaller hardware sector, with the STOXX 600 heading for a weekly gain of at least 1%.

Eyes could be on UBS UBSG.S on Friday after Reuters reported that the Swiss bank was working on possible scenarios including shifting its headquarters, or a merger with another bank, if Switzerland introduces new banking rules it deems excessively strict.

Britain's banks will also be in focus ahead of the budget later this month, with finance minister John Healey, reportedly poised to tax the sector as part of his plans, according to a report in the Guardian newspaper.

(Samuel Indyk)

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