LIVE MARKETS-Before the bell: futures fall as metal rout hits miners

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BEFORE THE BELL: FUTURES FALL AS METAL ROUT HITS MINERS

European futures pointed to a sharply lower open on Monday as a steep selloff in precious metals after a blistering rally pushed investors into risk-off mode, setting up a pullback in miners and other stocks that had led gains this year.

Euro STOXX 50 futures fell more than 1% and FTSE contracts slid 0.7%, while Nasdaq futures dropped around 1.5% ahed of a week packed with central bank meetings and corporate earnings.

Gold miner Fresnillo FRES.L was seen down around 10% as gold and silver prices posted double-digit losses. Other mining stocks, including Anglo American AAL.L and Glencore GLEN.L, were also set for a weaker start, as copper plunged.

Oil majors were indicated lower as well, with easing tensions around Iran dragging crude prices down nearly 5%.

In company news, Italy's largest bank Intesa Sanpaolo ISP.MI set a 2029 net profit target above 11.5 billion euros and said it would return about 50 billion in the next five years. Julius Baer BAER.S also reported results.

Elsewhere in Italy, BFF Bank BFF.MI cut its 2026 guidance and announced the departure of its chief executive.

In M&A, Helios Consortium raised its possible offer for CAB Payments CABP.L.

(Danilo Masoni)

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EARLIER ON LIVE MARKETS:

METALS GET A LOT LESS PRECIOUS AS POSITIONS SQUEEZED CLICK HERE