Live news: Social media groups trade higher after US House passes bill banning TikTok

Events: The UK’s House of Commons Treasury committee takes evidence from chancellor Jeremy Hunt about his spring Budget statement delivered to parliament last week. German Chancellor Olaf Scholz receives Thai Prime Minister Srettha Thavisin in Berlin. Finnish foreign minister Elina Valtonen meets her Georgian counterpart Ilia Darchiashvili in Helsinki.

Economic indicators: The UK publishes its gross domestic product estimate for January. Output dropped 0.3 per cent in the final quarter of 2023, pushing the country into a technical recession. Russia releases consumer price index data. Inflation has been rising, along with interest rates, fuelled by the country’s hefty defence spending.

Corporate updates: Adidas, Balfour Beatty, Eni, Eon, F&C Investment Trust, Ferrexpo, Geberit, The Gym Group, Inditex, Metro Bank and Volkswagen issue results.