MNI Global Morning Briefing

     LONDON (MNI) - Tuesday sees a return of the U.S. markets after their

extended holiday weekend,

although data releases in the States are limited.

     The main releases Tuesday include Italian industrial orders at 0900GMT, UK

Labour data at 0930GMT and the German ZEW survey at 1000GMT.

     Italian industrial orders are the latest in a line of eurozone production

reports this month and will likely underline the END of year slowdown seen

across the region. November saw orders down 0.2%.

     The UK Labour Force survey will likely show continues strength in the

underlying

jobs market and a pick-up in average earnings. Unemployment is expected to hold

steady at the multi-decade low of 4.0%.

     Germany's ZEW will publish the February survey results at 1000GMT, with

forecasts mixed. The current conditions index is seen lower, while expectations

are seen modestly higher.

     US data is largely second tier, with the US NY Fed Business Leaders Index

and

the NAHB home builder index slated for publication.

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