LIVE MARKETS-Stocks steady

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STOCKS STEADY

European stocks have steadied in the first hour of trading, flat on the broad STOXX 600 level at least, as some of the selling pressure they've seen in the last 48 hours or so on tariff threats petered out.

Autos, which saw the worst of the selling, are actually up slightly, .SXAP though the big picture is still that they hit their lowest this year on Thursday.

There are a couple of things putting a floor under the selling.

Firstly, bond yields are lower and markets are increasing bets on an ECB rate hike in April - that was the base case a couple of months ago, then it was in doubt, now it seems likely again - on the back of tariff worries and cooler inflation data from France and Spain on Friday. GVD/EUR

Secondly surprisingly strong British retail sales data is helping that sector .SXRP up 0.7%. The FTSE .FTSE up 0.24% is outperforming the dax .GDAXI down 0.4% as well.

The biggest gainer on the Stoxx 600 is gaming firm Ubisoft UBIP.PA up over 8% after the French video game maker announced plans to set up a subsidiary in which Tencent 0700.HK will invest 1.16 billion euros.

(Alun John)

EARLIER LIVE MARKETS POSTS:

EUROPE BEFORE THE BELL: LOWER AGAIN CLICK HERE

MORNING BID: TARIFF CARNAGE RUMBLES ON CLICK HERE