However, Igor Konashenkov, the Russian defence ministry spokesman announced today that some troops are returning to their bases. The FTSE 100 gained 0.7% this morning, lifted by miners, healthcare and consumer staple stocks.  Astrazeneca is among the best performers, jumping 4.1% on positive data from a prostate cancer treatment trial.

BHP Group is also doing well after posting a 57% rise in its first-half profit on stronger commodity prices.

Despite good corporate results, worries about what Russia will do next is still very present, and all eyes are on today's meeting between German Chancellor Olaf Scholz and Russian President Vladimir Putin.

 

Things to read:

Bond market signals concern Fed’s bid to cool inflation will backfire (Financial Times)

UK Incomes see biggest squeeze since 2014 as inflation bites (Bloomberg)

Why the West’s Diplomacy With Russia Keeps Failing (The Atlantic)