London Shares to Open Lower as Russia-Ukraine Conflict Hits Sentiment

FTSE 100 to Open Lower as Russia-Ukraine Conflict Hits Sentiment

0734 GMT - The FTSE 100 is expected to open lower as the Russia-Ukraine conflict weighs on market sentiment and as investors await the key U.S. nonfarm payrolls report later Friday. Spreadbetting firm IG expects the London index to fall 51 points at the start of trading. "The fact that Russia has occupied a nuclear site in Ukraine is worrying for traders as this increases the chance of another set of tougher sanctions from the U.S. and its allies," AvaTrade analysts say. Meanwhile, investors are likely to focus on the nonfarm payrolls report at 1330 GMT and, if it misses expectations, equities could tank further, they say.

 
Companies News: 

D4t4 Solutions Extends Share Buyback Program by Three Months

D4t4 Solutions PLC said Friday that its board has decided to extend its share buyback program for a further three months.

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Hammerson 2021 Loss Narrowed as Adjusted Earnings Rose

Hammerson PLC on Friday reported a narrowed loss for 2021 as its adjusted earnings more than doubled.

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Ten Lifestyle Expects FY 2022 Adjusted Ebitda to Be Below Expectations

Ten Lifestyle Group PLC said Friday that it expects adjusted Ebitda for the fiscal 2022 to be below expectations, but revenue to be in line with views and that the impact of Russia and Ukraine conflict on its business is limited.

 
Market Talk: 

Copper Inventories Look Set to Be Depleted, Upward Price-Pressure Likely

0326 GMT - Copper inventories look set to be depleted, Goldman Sachs says, pointing out that a significant copper deficit of 297,000 tons last year could likely be followed by another deficit of 197,000 tons this year. There could be further volumes lost due to Russia's invasion of Ukraine, placing upward pressure on prices of the industrial metal, it adds. "We believe that in an environment of extremely tight fundamentals, current investor positioning is surprisingly limited and therefore we see no overhang for fresh longs," Goldman says. It reiterates its recommendation to go long on December 2023 LME copper, and on the December 2022/December 2023 spread.

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Value of BP's Stake in Rosneft is 'Close to Zero,' BP Board Member Says

1357 ET - The value of BP's stake in Russian oil company Rosneft Oil Co. is "close to zero," BP board member John Sawers said at a joint event held by WSJ's CEO Council and WSJ's CFO Network. The British oil major on Sunday said it plans to exit its roughly 20% stake in government-controlled Rosneft. "We've effectively walked away from our business in Russia," said Sawers, who also serves as executive chairman of consulting firm Newbridge Advisory and was formerly head of U.K. intelligence agency MI6. BP has said it plans to take significant noncash charges to reflect foreign-exchange losses it has accumulated since 2013-the year it acquired the 20% stake-and the revaluation of its stake as a financial asset instead of as an equity interest on the books.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [e-mail]

(END) Dow Jones Newswires

03-04-22 0257ET