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Markets plunge and gasoline hits document for second day in a row

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Good morning.

It is now per week since shares have been final buying and selling in Moscow, and it appears the shutdown is about to proceed.

The Moscow Trade will stay closed for the fifth right this moment, marking the longest market closure within the nation’s historical past. Officers mentioned there can be no buying and selling till a minimum of subsequent Wednesday.

It comes as Russia’s central financial institution desperately makes an attempt to stave off monetary collapse within the wake of a wave of western sanctions.

Russian corporations listed in London misplaced 90pc of their worth earlier than being suspended.

5 issues to start out your day 

1) Financial armageddon looms as investors wait for Moscow’s ‘uninvestable’ stock market to reopen  Analyst toasts “demise” of the Russian capital as a buying and selling hub on stay tv 

2) Former energy minister clings on at company backed by sanctioned Russian oligarch  Lord Barker continues to be govt chairman of EN+, the aluminium large part-owned by Oleg Deripaska 

3) Russia’s Lukoil breaks ranks by telling Putin to end war in Ukraine  Russia’s second-largest oil firm requires “speedy cessation of the armed battle” 

4) Bitcoin faces day of reckoning as oligarchs race to rescue their cash  The West fears Russian oligarchs will dodge sanctions by placing their cash into digital cash

5) Russian planes and rockets risk being grounded by Lloyd’s of London ban  Ban forces Russia to halt house launches or make them with out cowl

What occurred in a single day 

 Asian shares and the euro slumped on Friday after information of a hearth close to a Ukraine nuclear facility following combating with Russian forces heightened investor fears concerning the escalating battle and despatched oil costs greater.

MSCI’s broadest index of Asia-Pacific shares excluding Japan tumbled as a lot as 1.6pc to 585.5, the bottom stage since November 2020, taking the year-to-date losses to 7pc.

Inventory markets throughout Asia have been in a sea of pink, with Japan dropping 2.5pc, South Korea 1.1pc, China 0.8pc and Hong Kong 2.5pc, whereas commodities-heavy Australia was down 0.6pc.

Arising right this moment

  • Company: Hammerson, Morgan Superior Supplies (full-year outcomes)
  • Economics: Development PMI (UK), retail gross sales (EU), nonfarm payrolls (US), unemployment charge (US), common hourly earnings (US), labour drive participation charge (US)

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