It is going to be a positive start for the FTSE 100, which is ready to reverse yesterday’s losses in the open. The blue-chip index closed lower on Monday, swayed by oil prices as new lockdowns in Shanghai sparked demand fears. However, hopes for progress in the negotiations between Russia and Ukraine helped boost the investment climate, with US and Asian stocks rising overnight.

5 things to start your day with

  1. P&O Ferries seize second boat due to safety concerns The ship remains in Dover for days after the ship was not allowed to leave the port in Northern Ireland
  2. Security flaws leave electric cars at risk of hacking Electric cars can be tampered with through charging points
  3. Gas imports will increase without further investment in the North Sea, industry warns Offshore Energies UK says Norway now supplies more UK oil than the country’s own producers
  4. Brussels takes legal action against UK over use of British spare parts in wind farms The EU has lodged complaints with the World Trade Organization in its first move since Brexit.
  5. Waitrose is on the road after the release of Asda’s Just Essentials series.

What happened overnight

Asian stocks rose on Tuesday as the fall in oil and the prospect of more ceasefire talks between Russia and Ukraine helped the climate. Shares rose in Japan and Hong Kong, but fell in China. Japanese stocks led to gains in Asian stocks as the Bank of Japan defended its extremely easy stance, while oil fell amid fears of lower demand from China as Shanghai implemented a “zero Covid” lockout strategy. The Japanese Nikkei gained 0.91% at the beginning of trading, while the broader Asia-Pacific stock index of MSCI outside Japan rose 0.64%.

He is coming today

Company: AG Barr, Burford Capital, IQE, Ten Entertainment Group, S&U (full year results). Bellway (intermediate) Finance: Consumer Credit (UK), Mortgage Approvals (UK), BRC Store Price Index (UK), Housing Price Index (US)