What you need to know before the open
Rising tensions in Ukraine are expected to hit European equities this morning.
The Ukrainian government has begun a full-scale anti-terrorist operation, following the arrival of pro-Russian forces in several towns in eastern Ukraine. Russia has asked for a dialogue to be initiated, calling for Kiev not to use force.
The rouble's currently down almost one per cent, and Moscow's Micex index fell 1.3 per cent on the news.
Poor earnings results from JP Morgan have continued knocking markets, with the S&P 500 falling to a seven-week low on Friday.
Later on, Citigroup are reporting. Citing sources familiar with the matter, the Wall Street Journal says the bank is cutting 200 to 300 jobs – two per cent of its workforce.
Meanwhile, Rightmove’s house price index hit a record high this month, with the shortage of supply pushing the price of homes even further. Asking prices rose 7.3 per cent year-on-year – the highest since October 2007.
Glencore has confirmed the long-awaited sale of its Las Bambas mine to a Chinese consortium for $6bn (£3.6bn) cash.
Meanwhile, the chief executive of Peugeot Citroen, Carlos Tavares, has laid out plans to get the loss-making firm “back in the race”.
And Networkers International, the recruiters, have reported results in line with expectations, despite a challenging year.
Over in Japan, Seibu, the hotel, transport and property conglomerate, has priced its initial public offering 30 per cent below the target it had set – at 1,600 yen (£9.40p) per share.
Data in focus
- 10.00am: EU March industrial production
- 1.30pm: US March retail sales
- 5.45pm: EU ECB’s Noyer speech