FTSE 100 Is Set to Fall After Lower Asia, US Trading

0737 GMT - The FTSE 100 index is expected to open 178 points lower at 7320, according to CMC Markets, after downbeat trading in Asia and a negative close on Wall Street. Markets in mainland China, Hong Kong and Japan are all in the red and the Dow closed more than 1% down. "Reports of missile strikes on various targets around Kyiv, Kharkiv and Dnipro and heavy fighting have seen oil prices surge over $100 a barrel, gold to move above $1,940 an ounce, while Asia markets have plunged," CMC says. "European markets are set to follow suit when they open later." (philip.waller@wsj.com) 


 
Companies News:

St. James's Place 2021 Pretax Profit Rose, Driven by Higher Demand

St. James's Place PLC said Thursday that pretax profit nearly doubled in fiscal 2021, driven by higher client demand and a more favorable environment after the Covid-related disruptions.

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Lloyds 4Q Pretax Profit Rise Missed Market Views; Plans Buyback of Up to $2.71 Bln

Lloyds Banking Group PLC reported on Thursday a rise in pretax profit for the fourth quarter of 2021 that fell short market views, and said it intends to launch a share buyback program of up to 2 billion pounds ($2.71 billion), given its strong capital position.

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WPP Swung to 2021 Pretax Profit

WPP PLC on Thursday reported a swing to pretax profit for 2021, as top-line growth was driven by strong demand for services in digital marketing, media, e-commerce and technology.

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Centrica 2021 Profit Soars, Says Dividends to Restart Soon

Centrica PLC on Thursday reported a significantly improved profit for 2021 and said that it should be in a position to restart its dividend soon.

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Serco Group's 2021 Pretax Profit Rose; Start to 2022 Strong

Serco Group PLC reported Thursday a significant rise in pretax profit for 2021 and said its guidance for 2022 remains unchanged, noting that it had a strong start to the year.

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Rolls-Royce 2021 Pretax Loss Narrowed; CEO Warren East to Step Down

Rolls-Royce Holdings PLC on Thursday reported a narrowed pretax loss for 2021 and said that Chief Executive Officer Warren East will be stepping down at the end of this year after almost eight years in the role.

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Anglo American Declares $1B Special Dividend as 2021 Profit Quadrupled

Anglo American PLC on Thursday declared a special dividend of $1.0 billion and reported that its net profit quadrupled in 2021 on the back of higher commodity prices.

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BAE Systems 2021 Pretax Profit Rose on Higher Sales

BAE Systems PLC said Thursday that pretax profit rose in 2021 on higher sales, and that in 2022 it looks forward to continuing top-line growth with margin expansion and good cash delivery against its rolling targets. 


 
Market Talk:

Oil Surges as Russian Invasion Begins

0637 GMT - Oil prices surge but fall short of hitting the keenly watched $100 a barrel level after Russia launches an invasion of Ukraine. Brent crude oil continuous futures jump 5% to $98.66 a barrel, their highest level since 2014. Front-month Brent futures which expire in April jumped as high as $102.07 a barrel. U.S. benchmark WTI futures rose over 5% to $96.89 a barrel. Russian missiles and airstrikes hit dozens of cities throughout Ukraine early on Thursday, immediately after President Putin said he would launch an operation against Ukraine. Investors fear Russia's plentiful oil supplies could get snarled in a conflict or in the ensuing sanctions that are expected to target the Kremlin at a time when energy markets are already tight. (william.horner@wsj.com)

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Russia-Linked Metals Jump on Sanctions Fears

0713 GMT - Aluminum, nickel, and palladium--all metals heavily produced in Russia--rally, as a war in Ukraine raises the prospect of sanctions targeting Russia's mining industry. Aluminum and nickel benchmark prices on the London Metal Exchange both rise 2.4% to $3,373.50 a metric ton and $25,110 a ton, respectively, taking prices for both to decade highs. Palladium is also up over 3% to $2,527 a troy ounce, a six-month high. Russia is the world's third-largest producer of aluminum and nickel and the largest producer of palladium. For palladium, fears that sanctions could hamper supply from Russia were encouraging consumers of the metal to stock up, driving prices higher, Kirill Kirilenko, a precious metals analyst at CRU Group, says. (william.horner@wsj.com)

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Wheat at Near Decade High After Russia Invades Ukraine

0657 GMT - Grains rally as a Russian invasion of Ukraine begins. Wheat futures in Chicago rise 5.7%, adding to a more than 6% jump on Wednesday. The increase puts wheat prices at $9.35 a bushel, their highest level since July 2012. Corn also rallies over 5% to $7.16 a bushel. Ukraine and Russia together account for 29% of all global wheat exports and over 18% of all global corn exports, according to data from the USDA. Explosions were reported in the Ukrainian towns of Odessa, Mariupol, and Berdyansk--all key Ukrainian ports on the Black Sea coast which are crucial points for the country's grain exports. Analysts fear damage to Ukraine's export infrastructure could hobble its grain exports and hamper global supplies. (william.horner@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

02-24-22 0310ET