european stock futures wiped out an initial surge on ubs group ag’s agreement to buy credit suisse group ag as investors remained skeptical about the health of the global financial system euro stoxx 50 contracts expiring in june were down 04 as of 1 pm in hong kong erasing an early gain of as much as 14 us futures also surrendered gains with sp 500 contracts little changed after jumping nearly 08 shares of european banks traded in asia tumbled as traders weighed a collapse in the value of additional tier 1 bonds issued by lenders following the terms of the credit suisse rescue