LIVE MARKETS-Europe before the bell: Cautious start before payrolls, oil rises
SPY•Jobs report in focus
Looking forward, eyes on the U.S. labour market report which is expected to show a pickup in jobs growth, allowing the Fed to maintain its focus on inflation.
Oil rises on Strait of Hormuz concerns
Oil prices LCOc1 have jumped after a report suggested that Iran, working with Oman, proposed banning vessels deemed hostile from the strait and heavily fining those which violated the proposed rules.
Sources have said the proposed deal is not easily workable due to U.S. sanctions and restrictive insurance clauses on any payments, implying that traffic through the waterway is still a long way from normal.
Corporate updates from Allianz and Monte dei Paschi
In corporate news this morning, Allianz ALVG.DE posted a worse-than-expected drop in profit but maintained its 2026 target.
Italy's Monte dei Paschi BMPS.MI beat profit forecasts and said it was studying alternatives to fend off a bid from Intesa Sanpaolo.
European futures little changed ahead of U.S. payrolls
European equity futures are hovering close to unchanged on Friday ahead of a key U.S. jobs report and as oil prices are rising for a third day on concerns over plans to reopen the Strait of Hormuz.
Euro STOXX 50 futures STXEcv1 are little changed on the day. DAX FDXc1 and CAC FCEc1 futures are a touch higher, while FTSE FFIc1 futures are nursing slight losses.
