Energy stocks went down as oil prices fell on fears for demand, although crude prices rose again after Putin said Russia might cut production in response to the G7 price cap.

Britain's finance ministry unveiled plans to reform the financial sector, including a provision to scrap and amend rules that were implemented when Britain was in the EU.

The London index was down 0.2% this morning, weighed down by miners, as copper prices declined.

Investors are trading cautiously ahead of major central banks' meetings scheduled later in the week, including the Fed and the Bank of England, which are both expected to announce rate hikes of 50 basis points.

Among stocks, London Stock Exchange advanced 3.8%, as Microsoft is poised to purchase a 4% stake as part of strategic partnership to move the exchange’s data and analytics into the cloud.

Metro Bank was down 0.9% after it was fined $12.2 million by the Financial Conduct Authority for misleading investors.

 

Things to read today:

Decoupling spells an end to corporate opacity (Financial Times)

New Front in ECB’s Inflation Battle to Bring Bargaining on Rates (Bloomberg)

US scientists make huge breakthrough in fusion energy (Daily Telegraph)