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FTSE 100 slides as investors await the outcome of peace talks between Russia and Ukraine

Credit Suisse Group said it had 914 million of credit exposure to Russia at the end of last year, while warning that an increase in trading and hedging activity after the invasion will likely be offset by higher provisions and lower deal-making

Banking through physical branches could phase out by 2025, a new survey has revealed

https://www.cityam.com/branch-banking-to-be-dead-and-gone-in-europe-by-2025-survey-says/

FTSE 100 was expected to rally further after Wednesday's big gains, Financial spread betters had Footsie up 27 points

FTSE 100 was expected to rally further after Wednesday's big gains, Financial spread betters had Footsie up 27 points

March 10 (Reuters) - House price growth in Britain hit a new eight-month high in February as the housing market showed little sign of losing momentum amid a growing cost-of-living squeeze, a survey showed on Thursday.

The Royal Institution of Chartered Surveyors (RICS) said a net balance of +79% of its members reported a rise in house prices in February, up from +74% in January and its highest since June. A Reuters poll of economists had pointed to a reading of +73%.

https://www.reuters.com/world/uk/uk-house-prices-keep-rising-despite-squeezed-budgets-rics-2022-03-10/

March 10 (Reuters) - British employers' hiring of new permanent staff rose by the smallest amount for 11 months in February, reflecting a shortage of candidates, although starting salaries continued to rise rapidly, a survey showed on Thursday.

With the Bank of England worried about the labour market overheating, the Recruitment and Employment Confederation (REC) trade body and accountants KPMG said their index of permanent staff placements dropped to 65.3 in February from 66.8 in January.

https://www.reuters.com/world/uk/hot-uk-labour-market-gives-off-mixed-signals-february-rec-2022-03-10/

Silver price drops 25.53, -0.22

Falky good evening

Looks like opec are increasing oil production

For now, markets are relieved by the fact we haven’t had any fresh bearish news since yesterday’s announcement of a ban in oil imports from Russia. The markets were severely oversold, and any piece of good news would have always been amplified in terms of market reaction, which is what we have seen so far today. Also, let’s not forget that this is also typical of a bear market when you sometimes see multiple percentage point gains in a short period of time as the shorts are squeezed before the rally runs out of steam and the downward trend resumes

Investors have piled into flagging equities in the past week as they hunt for bargains amid the market turmoil sparked by Russia’s invasion of Ukraine.

https://www.cityam.com/investors-hunt-for-bargains-amid-global-market-turmoil/

US stocks are expected to open sharply higher, recovering from falls on Monday and Tuesday, Dow futures rose 1.5% on Wednesday in pre-market trading, while those for the broader S&P 500 index gained 1.64% and the tech-heavy Nasdaq added 2.05%.

March 9 (Reuters) - London's FTSE 100 rose on Wednesday, aided by gains in financial stocks after insurer Prudential reported upbeat earnings, while Unilever climbed after the food company suspended imports and exports out of Russia.

"Results this morning are certainly helping to an extent. I think market appears to be not necessarily in a 'buy the dip' mode but certainly squaring off some short positions. It's bit of a tentative buying but nothing too excessive," said Chris Beauchamp, chief market analyst at online trading platform IG.

https://www.reuters.com/business/ftse-100-rises-prudential-leads-financials-higher-2022-03-09/

""For god's sake, don't get excited""

Lloyds up 13% from last week's lows as markets finding some stability, looks like its buy the dip for traders

FTSE 100 tipped for positive start
The London benchmark was called about 70 points higher

FTSE 100 tipped for positive start
The London benchmark was called about 70 points higher

The primary focus right now is the sharp rise in energy prices, according to analysts at Lloyds Bank.

"The big question is whether central banks will primarily see this as a further indication of inflationary pressures that needs to be responded to with tighter monetary policy or as an escalation of the downside risks for economic growth," Lloyds said.

Markets are still pricing in an interest rate hike from the Bank of England this month and a total of 145 basis points of tightening this year compared to just 25 basis points of interest rate hikes from the ECB in 2022

Nickel Surge With Short Bet Cut

https://www.google.com/amp/s/www.asiafinancial.com/chinas-tsingshan-seen-firing-nickel-surge-with-short-bet-cut/amp

March 8 (Reuters) - Prince Andrew on Tuesday formally requested a dismissal of Virginia Giuffre's lawsuit accusing him of sexually abusing her when she was underage, as Britain's finance ministry confirmed that no public funds were used in their settlement

https://www.reuters.com/legal/government/prince-andrew-virginia-giuffre-formally-end-lawsuit-britain-says-no-public-funds-2022-03-08/

Greggs full-year sales have surpassed pre-pandemic levels, as the bakery chain restarts its colleague profit-sharing scheme, which will see £16.6m shared with staff.

Total sales rose 5.3 per cent to £1.2bn, in comparison with 2019’s figure of £1.1bn, preliminary results for the year to 1 January revealed this morning.

It comes as the bakery chain rewards shareholders with a special dividend of 40p per share, after a turbulent two years