globel news Global stocks recover poise after tariffrelated turbulence

globel news Global stocks recover poise after tariffrelated turbulenceENERGY Benchmark U.S. crude rose cents to . a barrel in electronic trading on the New York Mercantile Exchange in New York while Brent crude, the international standard, rose cents to . a barrel.

CHINA CONGRESS Beijing set an annual growth target for the worlds No. economy of around . percent for . Premier Li Keqiang announced that at the opening of the annual legislative session. Thats down from a . percent expansion last year, but still robust. Li also outlined plans to forge ahead with an overhaul of state industry, ramp up military spending and pursue advanced technology.

TRUMP TARIFFS The mood in markets was calm following last Fridays turbulence in the wake of U.S. President Donald Trumps revelation that he intended to slap tariffs on aluminum and steel imports. That prompted others to warn of retaliatory measures, which stoked fears of a potential trade war. Trump has not backed down since, and even threatened to slap tariffs on European cars.

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A man stands next to an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, March , . Asian shares fell in early trading Monday as investors evaluated the uncertain results of Italian elections and a report on Chinas economic plans for the year ahead. AP Photo/Vincent Yu

Cloudy skies. A few flurries or snow showers possible. Low F. Winds E at to mph.

KEEPING SCORE In Europe, Frances CAC was up . percent at , while Germanys DAX rose . percent to ,. Britains FTSE advanced . percent to ,. However, Italys benchmark FTSE MIB sank . percent to ,. Wall Street was poised to open lower with Dow futures and the broader SP futures down . percent.

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Sunny to partly cloudy. High F. Winds E at to mph..

ITALIAN VOTE Italian stocks lost ground Monday, but not by much, after an election which saw no single party or bloc emerge with enough support to win a majority in Parliament. That sets the stage for extended political uncertainty. Preliminary results released by Italys interior ministry showed the centerright coalition winning about percent of the parliamentary vote and the Star Movement getting about percent, with the centerleft coalition r behind with percent.

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THE QUOTE In these circumstances, it is reasonable for market participants to wait for further political clarity at the current juncture, said Lee Hardman, currency analyst at MUFG. The limited euro selloff so r also reflects our belief that the developments are unlikely to materially undermine economic growth and financial sility in the eurozone. The euro was unchanged at ..

LONDON AP Global stock markets recovered their poise Monday after fears of a trade war prompted volatile trading at the end of last week. Italian stocks underperformed their peers in Europe, though, after Sundays election showed rising support for populist parties but no one grouping able to govern on its own.

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Global stocks recover poise after tariffrelated turbulence

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ANALYST TAKE There is a real possibility that a trade war could unfold which doesnt work to anyones benefit, said Craig Erlam, senior market analyst at OANDA. The prospect of this rattled markets on Friday but this didnt last long and U.S. equities quickly bounced back, with the SP ending the day half a percentage point higher. European stocks have been playing catch up at the start of the week, although automakers continue to struggle after Trumps threats.

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A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, March , . Asian shares fell in early trading Monday as investors evaluated the uncertain results of Italian elections and a report on Chinas economic plans for the year ahead. AP Photo/Vincent Yu

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A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, March , . Asian shares fell in early trading Monday as investors evaluated the uncertain results of Italian elections and a report on Chinas economic plans for the year ahead. AP Photo/Vincent Yu

ASIAN SCORECARD Japans benchmark Nikkei index lost . percent to close at ,. and South Koreas Kospi slipped . percent to end at ,.. Hong Kongs Hang Seng tumbled . percent to ,. but the Shanghai Composite in mainland China recouped losses, rising in the final minutes of trading to edge . percent higher to ,.. Australias SP/ASX fell . percent to ,…