Yesterday, the Fed increased rates by 0.25%, in line with expectations. It is planning six more hikes this year to reach around 2.0% by December. The US central bank also signaled that tapering would start soon.

Meanwhile, China's stock markets soared after the government decided to intervene to stop the domestic stock market rout, pledging support for equities and overseas listing.

Regarding the situation in Ukraine, officials from both countries said that talks towards a cease-fire agreement have advanced significantly. Rescue efforts were also under way in Mariupol, to save people trapped in a theatre shelled by the Russian army.

Among individual stocks, Cineworld jumped 2.3% after forecasting a better performance this year.

 

Things to read today:

Default looms as Russia hits deadline for dollar bond payments (Financial Times)

Russia’s Ruined Gameplan for Ukraine Is Visible in the South (Bloomberg)