However, the FTSE 100 fell 1.45 % today, as declines in natural gas and oil prices hampered commodity stocks. There are also concerns about supply chains and the world's economy due to a surge in Covid cases in China.

Meanwhile, markets are nervous ahead of the Fed meeting, which starts today and ends tomorrow. It is very likely that the Fed will raise interest rates by 0.25 %, the first hike in a series this year.

Imperial Brands fell 1.5%, after it announced that its exit from Russia would have a small impact on annual profit. Meanwhile, events group Informa Plc gained 1.2% after posted higher annual earnings.

There was a bit of good news in Britain, since new data showed the unemployment rate was down more than expected to 3.9% in the three months to January.

 

Things to read today:

Russian debt default on the cards after Kremlin issues warning (The Times)

Xi Jinping faces a fateful decision on Ukraine (Financial Times)

Russia Is Spiraling Toward a $150 Billion Default Nightmare (Bloomberg)