FTSE falls as investors react to US warning of an imminent Russian invasion of Ukraine

Good morning, a tough day for the markets here in London as the FTSE dives into the red on mounting fears that Russia could launch an invasion into Ukraine. All of this is bad news for Europe’s energy crisis, potentially disrupting supplies of oil and gas.

European natural gas and electricity prices jumped more than 10% after the U.S. National Security Advisor Jake Sullivan said intelligence indicates Russia may attack its neighbor before the Beijing Olympics ends in a week. Steelmaker Evraz, with assets in Russia, slid 37% as investors fled en masse.

In the small cap world, Mosman Oil and Gas Ltd (AIM:MSMN) (Mosman Oil and Gas Ltd (AIM:MSMN)) has had its application for an extension granted for the work programme conditions for the work in Australia’s Norther Territory. 

Power Metal Resources PLC (AIM:POW) (Power Metal Resources PLC (AIM:POW)) has completed its latest round of drilling at the Haneti project in Tanzania. Samples are now being prepared for analysis and lab assay testing.

And Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF) (Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF), Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF), Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF)) has extended the repayment date for its loan facility with La Mancha Fund to 30 June 2022.

And finally, more than a third of us here in the UK will spend around £40 on a Valentine’s Day gift this year, according to new national research from fashion retailer ISAWITFIRST. They discovered that men typically spend more than women on gifts, splashing out £54 on average, compared with women who spend just £34.