This morning in London: The FTSE 100 is currently down 88 points at 6721.
FX and commodities: GBP/USD is down four pips at $1.6740, EUR/USD is down 21 pips at $1.3779 and USD/JPY is down 42 pips at ¥101.35. Brent crude is up 223 cents at $111.21 and gold is trading at $1347, up $21.85.
Stocks: Individual equity news will take a back seat to the bigger military issues in Ukraine, which are affecting all the major European indices this morning. Royal Bank of Scotland is looking to find partners with which to merge its Irish Ulster Bank, as it continues to asset-strip. Market sage Warren Buffet has carried on reducing his stake in Tesco, the UK’s largest food retailer. There’s more good news for AstraZeneca, as FDA approval has been given for its Bydureon pen.
The day ahead: Today’s G7 meeting will undoubtedly discuss Russia and Ukraine. The weekend’s HSBC final manufacturing figures have come out in line with expectations. Later in the morning we will also see the latest UK manufacturing purchasing manufacturers index, along with the US equivalent in the afternoon. ECB president Mario Draghi is also due to speak this afternoon. He was originally penciled in to discuss the economic and monetary environment in the EU, but he is also likely to cover the broader geo-political issues to the east.
All figures correct at 8.30am. All times London time.