5th Mar - EU Open

Previously on MoreLiver’s:

Monday US Close: Fed, Italy and Cyprus

Monday US Open

Monday EU Open: Eurogroup

Follow ‘MoreLiver’ on Twitter or Facebook

Roundups

News roundup – Between The Hedges

The 6am Cut London – alphaville / FT

Emerging Markets Headlines – beyondbrics / FT

MORNING BRIEFINGS

3 Numbers to Watch: DE services PMI, EU retail sales, US ISM– TradingFloor

Europe still relies on Germany for growth, and today’s PMI update on services is expected to provide a fresh reminder of that dependency. Later on, retail sales for the Eurozone and ISM Services for the US are expected to bring upbeat news.

Market Preview: EU agrees on Cyprus aid; Europe services PMI eyed – TradingFloor

European markets are likely to open firmer on Tuesday after Eurozone finance ministers agreed to provide a bailout for Cyprus by the end of March 2013. Meanwhile, services PMI data across Europe and the US due today will be watched keenly.

Danske Daily – Danske Bank (pdf)

Monetary stimulus supports global equity markets as well as China committing to economic growth. Furthermore, the Australian Central Bank keeps rates on hold. Hence, US and Asian stock prices rise.   In Euroland, Ireland and Portugal are expected to receive more support from the EU. Sterling remains under pressure given expectations for more quantitative easing from the Bank of England this week.

Market movers today: Focus on final PMI data from a string of EU countries and US ISM non-manufacturing data. Finally, there is an ECOFIN meeting. Swedish PMI service data.

Aamukatsaus – Nordea (pdf)

Kiinassa vallanvaihdos ottaa askeleen eteenpäin * Latviasta seuraava euromaa? * Kiinan päätös pitää kasvutavoite ennallaan tukee raaka-aineiden hintoja

Aamukatsaus – Tapiola (pdf)

USA:n vahva teollisuuden ostopäällikköindeksi positiivinen yllätys perjantaina. Kiinan ilmoittamat uudet kiristykset kiinteistömarkkinoilla painoi osakemarkkinaa aamulla. Italian tilanne kriisiytyy: Grillo ei suostu EU-myönteiseen hallitukseen ja uhkaa kansan äänestyksellä eurosta vs. EU-komissio yrittää saada EU-myönteistä virkamieshallitusta Italiaan. Osakefutuurit miinuksella, indikoiden laskuavausta pörssiin. Nyt hyvä hetki ostaa: Stockmann, Alma Media, Olvi, Kesko, Finnair. Nyt hyvä hetki myydä: Marimekko, BasWare, Talvivaara, Stora Enso, Metsä Board

Markkinakalenteri – Nordnet

Markkinakalenteri – Taloussanomat

EUROPE

ECB Preview: Draghi turns softer as recovery fails – Danske Bank (pdf)

Understanding Europe's "Austrian" Solution – ZH

UBS' Larry Hatheway: The Merkel-Draghi wager: Will it pay off?

Euro crisis is breeding comics not fascists – FT

Gideon Rachman: Times may be tough but this is not the 1930s. Modern Europe is a richer, less traumatised continent

UNITED STATES

The Biggest Lesson from Earnings Season – A Dash of Insight

ASIA

China NPC 2013: The Reports – WSJ

In keeping with tradition, China Real Time has uploaded English and Chinese versions of all three major reports from the opening day of the National People's Congress as text-searchable PDFs (official reports typically aren’t posted online until much later).

China’s growth: A bountiful half decade – beyondbrics / FT

Perhaps the most striking section in his annual report to the National People’s Congress was his review of the country’s economic accomplishments over the past five years.

IN FINNISH

Kirjataanko alas? – Henri Myllyniemi / piksu

Kreikan jo käytyä pariinkin kertaan järjestämässä velkojaan tulee nopeasti mieleen EU:n talouskomissaari Olli Rehnin viime kevään sanat: "Me emme voi ratkaista kriisiä pinomalla uutta velkaa vanhan päälle, mikä on jo vahingoittamassa meidän talousnäkymiä." Tarkkaavaiset lukijat havaitsevat, että tuon ensimmäisen lauseen hän toisti osapuilleen sanasta sanaan varsin hiljattain. Kreikan kohdallahan kuitenkin tehtiin niin, että uutta velkaa pinottiin vanhan päälle.