The FTSE 100 made a nervy start with Russia claiming its first city in Ukraine as the fighting rages on.
London’s blue-chip index was 15 points lower at 7,412 in in early trades.
Oil prices have surged again with Brent crude hitting US$117 a barrel and natural gas reaching all-time new highs. Traders in Europe are scrambling to secure supplies because of the Ukraine situation and possible further sanctions. Russia supplies approximately 30% of Europe’s gas and oil.
London Stock Exchange stock jumped 9% on a decent trading update that reported annual profits had almost doubled. The LSE said it has suspended trading in 27 companies with strong ties to Russia.
ITV shares however tumbled despite enjoying record revenues from advertising last year. Companies increased ad spending as streaming picked up in popularity but the broadcaster said it is pumping £1.2bn into content in 2022 and another £1.35bn in 2023.
Among the small caps, i3 Energy and Europa Oil & Gas each described themselves ‘delighted’ as they partnered up in the Serenity project in the UK North Sea. Serenity is an appraisal and development opportunity, in which Europa is earning a 25% stake by paying 46.25% of the cost of a well.
Bidstack announced it has signed a partnership with Stork Limited for the popular farming game Goodville: Farm Game Adventure. Bidstack's software development kit will be integrated into the title, allowing ads to be served seamlessly onto banners and billboards around the game's virtual world.
Love Hemp Group meanwhile collected four awards at this year’s Beauty Shortlist Awards. The consumer goods company’s 300mg CBD capsules were named ‘Best CBD Capsules’, as well as winning the ‘Leading CBD Brand of the Year’ for the second year running.