FC: EU MORNING BULLETS : 5TH-MARCH-2018 March 05, 2018 at 07:28AM


* Asian equities declined on continued concern about the impact of American tariffs on the global economy.

* Nikkei -0.66%, Hang Seng -2.0 % , China outperformed after keeping its 2018 growth target of around 6.5%.

* The dollar strengthened

* US Treasury yields declined.

* Japan Services PMI Eases To 51.7 In Feb, down from 51.9 in Jan, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

* China says it does not want a trade war with US but will defend its interests, a senior Chinese diplomat said on Sunday,after Trump announced steel and aluminium imports tariffs.

* The euro slid after initial results from the Italian election suggest a hung parliament, as exit polls in Italy indicate political gridlock with 5 star the biggest party on almost a third of votes, counting still underway with results not due till later.

* German SPD voted to join a grand coalition to govern with Merkel in charge for a fourth term.

* Data today sees Markit Composite/services PMIs from Italy 8.45am, France 8.50am, Germany 8.55am and Eurozone 9am. Eurozone Sentix Investor Conf and UK Markit Composite/services PMI at 9.30 followed by EU Retail sales at 10am.

* US Markit Composite/services PMI dues at 2.45pm followed ISM Non-Mfg at 3pm.

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