European markets pull back as Russia attacks Ukraine power plant
Germany -2.62%. Germany February construction PMI 54.9 vs 54.4 prior.
Germany January trade balance €9.4 billion vs €6.1 billion expected (prior €6.8 billion).
MOEX The Russian central bank announces that stock trading will not resume today. Moscow Exchange reportedly will be closed on 5-8 March.
The pan-European Stoxx 600 slid 1.7%, with autos dropping to lead losses while utilities bucked the downward trend to add.
European markets retreated on Friday as Russia’s invasion of Ukraine escalates, with Russian forces attacking Europe’s largest nuclear power plant.
Italy Q4 final GDP +0.6% vs +0.6% q/q prelim.
Comin up in the session : UK February construction PMI at 0930 GMT; Eurozone January retail sales at 1000 GMT.
Update on Russian invasion of Ukraine: A fire broke out at a training facility at Ukraine’s Zaporizhzhia nuclear power plant after an attack by Russian forces early Friday morning. Ukraine says fire at Zaporizhzhya Nuclear Power Plant has been extinguished.
In bond market, The yield on 10-year Treasuries was down more than seven basis point to 1.78%.
Germany’s 10-year yield was down more than five basis point to -0.04%.
Britain’s 10-year yield was down more than four basis point to 1.26%.
European futures lower. FTSE -2.79%; CAC -1.96%; DAX -3.09% and EURO STOXX -3.00%.