Brent crude today reached $118 a barrel. Volatility remains high, and the FTSE 100 was down 1.2% early this afternoon.

Russia-exposed miner Polymetal tumbled 32.2% after it was removed from the London index along with Evraz as a result of sanctions against Russia's invasion of Ukraine. They are replaced by Gold producer Endeavour Mining and kitchens maker Howden Joinery.

Meanwhile, London Stock Exchange PLC climbed 9.3% after posting strong earnings updates.

Broadcaster ITV posted it 2021 annual results, with sales up 24% to £3.4 billion. EBITA was up 42% at £813 million, led by the strong recovery in the advertising market, cost control, and resumption of productions post Covid.

 

Things to read today:

Valuations offer European stocks support amid Ukraine uncertainty (Financial Times)

Sanctions carve outs for energy aren’t enough to keep money flowing to Russia (Wall Street Journal)

Russia’s Rating Cut to Junk (Bloomberg)