UK markets plunge as Russia invades Ukraine

This is the move that few believed would really happen. Russia launched an attack on several cities across Ukraine. Panicked, investors are deserting risky assets, and the FTSE 100 plunged 2.5% this morning.

In a move reminiscent of the second world war, Russia fired missiles at several cities in Ukraine and sent troops. Joe Biden said that the US and its allies will retaliate with "severe sanctions".

The barrel of Brent shoot up way above the symbolic $100 mark, which also lifted oil stocks, with Shell up 0.6% as oil prices surged. Gold also soared, which pushed the price of precious metals miner Fresnillo up 6%.

On the loser side, Lloyds Bank dropped 6.8% on lower-than-expected profit.

 

Things to read today:

Kremlin ties to ‘Londongrad’ need to be cut (Financial Times)

U.S., Allies Poised to Hit Russia With Broad Sanctions for Ukraine Invasion (WSJ)