The NatWest Group has agreed to buy 1, 1.2 billion worth of shares from the British government in a deal that would mean the bank is largely private for the first time since it was rescued during the financial crisis. The bank, formerly known as the Royal Bank of Scotland (RBS), said it had agreed to buy 550 million shares, or 4.91% of its share capital, from HM Treasury at Friday’s close at 220.5 p. . In the markets, oil prices have fallen and Asian stocks have fallen as the new lockdown due to the coronavirus in Shanghai hit economic activity. The Moscow Stock Exchange will continue the normal trading of Russian stocks and bonds today, for half a day. Last week it introduced limited trading. Today’s meeting will last from 7:50 a.m. until 11:50 a.m. BST. On Friday, Russian stocks fell on the second trading day with losses led by the airline Aeroflot. However, non-residents will still have to wait – they will be barred from selling shares and government bonds in Russian rubles, known as OFZ bonds, until April 1. The ban on open sales also remains. Shanghai has told all companies to suspend production or put people to work remotely in a two-stage lockdown for nine days. Brent crude fell more than $ 4 to $ 116.55 a barrel, while US light crude fell to $ 109.64 a barrel. Japan’s Nikkei closed 0.7% lower, while Chinese blue chips on the CSI 300 lost 0.9%, Shanghai Composite fell 0.1%, and Hong Kong’s Hang Seng rose 1%. European stocks are expected to open slightly higher. Gold prices have fallen and the dollar has strengthened as investors rallied on the prospect of new peace talks between Russia and Ukraine. As demand for safe-haven assets declined, the spot price fell more than 1% to $ 1,936. The dollar index reached its highest level in more than a week. The Russian and Ukrainian negotiators will resume face-to-face talks as soon as possible today, as Ukrainian President Volodymyr Zelenskiy welcomed the forthcoming new talks, saying he hoped they would bring peace “without delay”. Profit growth in China’s industrial enterprises accelerated from January to February due to higher profits in the energy and raw materials sectors. Earnings were up 5% from a year earlier, up from 4.2% in December, according to the National Bureau of Statistics. However, Goldman Sachs analysts have warned that Covid cases in many counties will hurt industrial profits. In the United Kingdom, Grant Shapps wrote a letter to the CEO of P&O Ferries urging him to announce a reversal of the decision to lay off 800 workers without warning, as unions pledged to “break the race” after a weekend of protests. It emerged yesterday that Russian agents confiscated multimillion-dollar Audemars Piguet watches in Moscow in apparent retaliation for Swiss sanctions banning the export of luxury goods, Bloomberg reported, citing the Swiss newspaper NZZ am Sonntag. THE AGENDA
11.30 a.m. BST: Finance Committee to investigate Budget Office’s responsibility for spring statement 12:00 BST: Bank of England Governor Andrew Bailey speaks 1.30 p.m. BST: US Commodity Trading for February 2.40 p.m. BST: The Finance Committee will question the chancellor about the spring statement
