MNI European Morning Briefing

     LONDON (MNI) - There is plenty of data on the calendar for financial

markets to watch Monday, with the final January services PMI likely to be the

stand out releases.

     The European calendar gets underway at 0815GMT, with the release of the

Spanish January services PMI, followed by the Italian data at 0845GMT.

     At 0850, the final French services PMI will cross the wires, along with the

January composite index. The two German releases are expected at 0855GMT,

followed by the Euro area data at 0900GMT.

     The UK January IHS Markit/CIPS Services PMI will be released at 0930GMT.

     The Services PMI, the third and final instalment of the UK economy's

monthly healthy check, is expected to come in broadly in line with the result

registered in December.

     While three analysts see the sector having ran at a faster pace in January,

five thought the pace of activity slowed. Should the majority prove correct, it

would mean all three sector PMI's would have started the year on softer note.

     As such, the median outturn of the analysts forecasts points to January

result of 54.0, marginally down from December's 54.2.

     At 1000GMT, the EU December retail sales will be published. At the same

time, Bundesbank Board member Andreas Dombret speech

     Across the Atlantic, the calendar kicks off at 1445GMT, with the release of

the US Markit Services Index and the ISM Non-Manufacturing Index.

     The ISM nonmanufacturing index is expected to rebound modestly to a reading

of 56.7 in January after a further decline to 56.0 in December after annual

revisions. The Philadelphia nonmanufacturing index fell to 19.5, while the flash

Markit Services index fell modestly to 53.3.

     The US employment trends index will also be published at 1500GMT.

     Back in Europe, at 1600GMT, ECB President Mario Draghi will present the

ECB's 2016 Report. At 1700GMT, Bundesbank Board member Claudia Buch speaks.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com