Adds blog post

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com.

BEFORE THE BELL: FINE-TUNING POSITIONING WHEN NO ONE KNOWS

Futures are pointing to a lower open for European stocks on Thursday, but that's partly due to the fact Wednesday's close came in the middle of one of those bursts of market hopes of an imminent deal between the U.S. and Iran to open the Strait of Hormuz, and so there's a bit of recalibrating going on.

The latest in the Gulf is that Iran said Thursday it was reviewing Washington's most recent position on ending the war.

U.S. President Donald Trump suggested he was prepared to wait a few days to "get the right answers" from Tehran but warned of renewed attacks if it did not agree to a deal.

That's put Brent at $106.5 a barrel, up on the day, but down from above $110 earlier on Wednesday. Euro STOXX 50 futures are down 0.2% STXEc1 but similarly, they closed up 1.8% the previous day at a two-week closing high.

We'll get a bit more colour on how the war has been affecting companies on Thursday with flash PMI data due. Japanese data showed manufacturing activity expanded at a slower pace, but still expanded and cost pressures surged.

The European Central Bank will be watching closely, though sources have told Reuters the case for a rate hike in June is nearly sealed.

In terms of sectors and companies to watch, the whole AI ecosystem will be in focus after Nvidia's expecations beating results, though its shares fell in after market trading, and were down a fraction in Frankfurt on Thursday. NVDA.O, NVDA.F

Also Italy's top insurer, Generali GASI.MI, posted first-quarter results above expectations and confirmed its targets through 2027, including annual growth in earnings per share of between 8% and 10%.

British budget airline EasyJet EZJ.L posted a first-half loss of £552 million ($741.39 million)

(Alun John)

*****

EARLIER LIVE MARKETS POSTS:

SAMSUNG ELECTRONICS' WAGE DRAMA NOT OVER YET CLICK HERE