Markets: European investors will be on the lookout for the fallout from UBS’s government-brokered takeover of Credit Suisse. Asian stocks fell Monday, with big banks like HSBC hit hard after the deal wiped out Credit Suisse’s $17 billion of additional tier 1 debt, casting doubt on the hierarchy of claims in the event of a bank failure. In addition, quarterly changes to local stock indices will take effect, including the UK FTSE 100, Germany DAX and France CAC.
Russia: Chinese President Xi Jinping meets with his Russian counterpart Vladimir Putin during a three-day state visit to Moscow.
EU: The bloc’s Foreign Affairs Council meets in Brussels to discuss support for Ukraine and positions on Tunisia.
Facts: Eurostat publishes the January trade balance data of the Eurozone. The German Federal Statistical Office publishes the February producer price index, a measure of inflation. British real estate group Rightmove publishes its domestic house price index.
UK labour: More than 70,000 university employees walk away because of wages, pensions and benefits. Officials from the Maritime and Coastguard Agency, Ofsted and the Driver and Vehicle Standards Agency are also going on strike.
Leave a Reply