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BEFORE THE BELL: EUROPEAN FUTURES MIXED, AS EARNINGS DRIVE MOVERS
European shares were set for a mixed start on Thursday as traders kept an eye on unfolding U.S.-Iran tensions that pushed crude prices higher, while a flurry of earnings from Nestle and other index heavyweights kept markets active.EuroSTOXX 50 .STOXX50E futures slipped around 0.1%, while the commodity heavy FTSE 100 .FTSE added 0.3%, after the region's equities closed higher at a fresh record high on Wednesday.Nestle NESN.S was indicated up around 2-3% after beating Q4 sales growth expectations and saying it would sharpen its focus on its strongest brands, including plans to sell its remaining ice cream business. Bernstein called the results "solid".Airbus AIR.PA fell 4% on Tradegate after it lowered its main jet production target, blaming engine maker Pratt & Whitney for failing to reach a crucial supply agreement.Rio Tinto RIO.L reported flat annual earnings that missed expectations, as weaker iron ore prices were only partly offset by stronger copper prices and higher output.Germany's No.1 residential real estate company Vonovia VNAn.DE was upgraded by Morgan Stanley after nearly 2 years of being underweight. "Vonovia's exposure low-income housing with regulated rents suggests low AI obsolescence risk in an uncertain world," MS wrote.(Danilo Masoni)*****
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ASIA HOLIDAYS AS US, IRAN WORK TO AVERT CONFLICT CLICK HERE
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