UK Market Advances

(RTTNews) - The UK market is trading higher on Monday, after Eurozone investor confidence reached its highest level since April 2011, even as the situation in Ukraine and weak data out of China limited gains.

On a day of very little economic news, a survey conducted by think tank Sentix on Eurozone investor confidence showed that composite confidence index rose to 13.9 in March from 13.3 in February, while it was forecast to rise to 14.

However, it was the highest score since April 2011. Assessment of current situation climbed to 4.8, the highest since July 2011, from 1.8 in February.

Meanwhile, reports indicate that a group of Russian soldiers attacked the Chernomorskoe border post and detained Ukrainian border guards amid the ongoing standoff.

China's exports unexpectedly tumbled by 18 percent last month, swinging the trade balance into deficit of $22.98 billion, official figures showed. Separately, consumer price inflation rose 2 percent in February from a year earlier, a 13-month low and down from 2.5 percent in January amid cooling demand.

The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.76 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is rising 0.31 percent.

The FTSE 100 index is currently gaining 0.41 percent.

Rolls-Royce is gaining 2.3 percent. Daimler plans to sell a 50 percent stake in an engine joint venture to the British engine maker.

Mondi is up 2.7 percent and Shire is advancing around 2 percent.

Antofagasta, Glencore Xstrata, BHP Billiton and Rio Tinto are trading lower in response to data out of China.

Barring Germany, other major markets in the region are in the green.

The Asian stocks fell sharply, led by China, Hong Kong and Japan as investors digested weak economic data and fretted about the escalating standoff between Russia and the West over Russia's seizure of Crimea.

In the U.S., futures point to a cautious open on Wall Street. In the previous session, stocks ended on a lackluster note, failing to sustain an initial upward move as lingering tensions in Ukraine tempered the excitement over the upbeat jobs report. The Dow rose 0.2 percent and the S&P 500 edged up 0.1 percent, while the tech-heavy Nasdaq slid 0.4 percent.

Crude for April delivery is falling $1.24 to $101.34 per barrel, while gold is losing $2.3 to $1335.9 a troy ounce.