Markets Overview: (Source: Bloomberg, FT, Reuters, DJ Newswires)

UK 100 called to open -30 points at 6686, following weaker-than-estimated Chinese trade and inflation data that stoked concern over the outlook for the world’s second-largest economy. Having closed down over over 70 points despite better-than-expected expected non-farms, the risk off theme continues across global indices with German Dax called lower by another 75 points to add to its near 200 points, 2% drop on Friday.

Over in Asia, China posted lower inflation in February, which was seen as good news for consumers but suggested that the Chinese economy is slowly losing steam. This subsequently led to copper heading for its biggest two-day retreat since May down by over 1.5%, set for its lowest close since June last year. Coupled with China’s exports plunging and fears of the country’s first bond default the China CSI index fell 3.3% to its lowest levels since 2009. Asian markets were all firmly in the red with the Hang Seng down over 400 points at 22,256 and the Nikkei down 154 points to 15,120.

In focus today: Eurozone finance ministers meeting (all day), EU Sentix investor confidence at 9:30am, Fed’s Plosser speaking at 11:15am, Canadian Housing Starts at 12:15pm,

Commodities: Industrial metals are on the slide as Chinese trade and inflation data spurs concern. Copper slid 1.1% in Tokyo, heading toward its lowest close in ten months. China, the world’s largest consumer of metals, is reported to have expanding stockpiles as data signifies an economic slowdown. Gold is holding steady at $1330 which is no surprise given the ongoing, yet stable, Ukraine/Russia standoff and slowing Chinese economy.

In FX, it is the Asian currencies grabbing the headlines. China’s yuan weakened 0.3% vs the USD, closely followed by the Malaysia’s ringget and Australia’s dollar.

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Overnight Macro Data: (Source: Reuters/DJ Newswires)

• China               Trade Balance                         Miss, deteriorated
• China               Imports                                    Beat, improved
• China               Exports                                    Miss, deteriorated
• China               CPI                                           Miss, deteriorated
• China               PPI                                           Miss, deteriorated
• Japan               GDP                                         Miss, deteriorated
• Japan               Trade Balance                         Beat, deteriorated

See Live Macro calendar for all details

UK Company Headlines: (Source: Reuters/DJ Newswires)

• GSK increases stake in Indian subsidiary to 75 pct
• Flybe announces results of firm placing and open offer
• Fyffes, Chiquita to merge to create world’s no.1 banana company
• Goals Soccer Centres to raise equity for new sites
• San Leon says Cambrian a viable oil reservoir
• Clarkson optimistic after full-year profit rises