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European markets down on falling and disappointing EMU PMI

FXstreet.com (Barcelona) - The German DAX (-0.86%), the French CAC 40 (-1.14%), the Italian FTSE MIB (-0.02%) and the Spanish IBEX 35 (-0.86%) are down on disappointing preliminary February Markit PMI data in Europe, including a German manufacturing drop below the 50.0 threshold.

Disappointing France Markit PMI figures had manufacturing PMI at 43.9 vs 44.3 consensus and services PMI at 41.9 vs 44.0 consensus. German data saw manufacturing dropping from 50.3 to 48.9 (consensus of 50.5) and services fell from 54.7 to 51.6 (consensus of 55.0). The EMU Composite PMI down from 47.9 to 46.5 (consensus of 48.2).

The British FTSE 100 is down by -0.07% despite some better than expected UK data. UK retail sales surprised on the upside: +2.1% (vs +0.5% consensus) (MoM), with ex-fuel data up by +1.9% (vs consensus of +0.5%). Annualized data rose from -0.5% to +2.6%, with the ex-fuel figure up from +0.5% to +3.3%.

UK CBI industrial orders fell from -14 to -15, but came in better than the expected -17. UK PSNB rose from £-10.263B to £4.356B in February, but was much less than the expected £8.250B.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a mixed opening ahead of US labor, housing and manufacturing data.

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