FTSE plummets as markets prepare for turbulent day ahead over Russia Ukraine crisis

Ukraine: Sajid Javid says Russian invasion 'has begun'

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

In the UK, the FTSE 100 continued the pattern of recent losses, opening down over -1.2 percent. FTSE listed companies with heavy exposure to Russia have been particularly hard hit. Steel and mining company Evraz, whose major share holders include Chelsea Football Club owner Roman Abramovich, saw its share price plummet over six percent as trading opened. In Russia, the MOEX index fell six percent in early trading having already fallen over 16 percent in the last five days.

The ruble has already been falling against the dollar since President Putin signed a decree recognising the independence of two breakaway regions in Ukraine and has now passed the key threshold of 80 to the dollar.

Oil meanwhile pushed even closer to the $100 a barrel threshold with Brent Crude reaching £71.65 ($97.23).

More to follow…

Source: Read Full Article