LIVE MARKETS-Europe before the bell: Mixed open, stocks set for weekly drop

By Reuters News

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EUROPE BEFORE THE BELL: MIXED OPEN, STOCKS SET FOR WEEKLY DROP

European equity futures are signalling a mixed start on Friday although major bourses look set to end the week lower as tech worries and higher oil prices weighed, French bonds sold off further and earnings season kicked into gear.

Euro STOXX 50 futures are up less than 0.1% heading towards the open, while futures on the DAX , CAC and FTSE are down 0.2% to up 0.3%.

Earnings continue to roll in from across industries, with typical themes emerging.

Swedish defence group Saab SAABb.ST reported a bigger-than-expected rise in profit, while automaker Volvo Cars VOLCARb.ST said it will cut jobs as it swung to a loss.

In the embattled luxury sector, sales at Kering's PRTP.PA Gucci unit fell 6%, in the latest blow for the industry after disappointing updates from LVMH LVMH.PA and Hermes HRMS.PA so far this reporting season.

Oil prices are a touch higher on Friday, which could cap broader equity gains, although bond markets look less shaky, particularly the more indebted euro zone countries like France and Italy.

(Samuel Indyk)

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