What you need to know before the open
With UK retail sales out this morning, European markets are expected higher.
Stocks were seen rallying in premarket trading, tracking US counterparts.
Along with Asian stocks, they responded well to better-than-expected US manufacturing data, contrasting to the previous day’s weak results for China.
This morning, Ukraine President Viktor Yanukovych said a deal, which will be signed later today, has been agreed with opposition leaders.
The ongoing chaos and violence saw European leaders vote last night to impose sanctions on the country. These include asset freezes, visa bans and the export of anti-riot equipment.
This morning, S&P has cut its credit rating for the Eastern European country to CCC, saying it's likely Ukraine will default.
Corporate news
Facebook shares hit a record high in trading yesterday – up to $70.11 – in the wake of it announcing it's buying Whatsapp, giving the social network a value of nearly $180bn.
In the UK
RBS is expected to say it’ll cut tens of thousands of jobs next Thursday, as it looks to reduce its cost base.
And Rolls Royce has announced it’s won a $182.7m contract with the US airforce, expanding its support at for the fleet of C-130J aircraft for which it also supplies engines, nacelles and propellers.
Data in focus
- 9.30am: UK Jan retail sales + Jan government borrowing
- 3.00pm: US Jan existing home sales