Monday 24 February 2014 2:41 am

What you need to know before the open

European markets are expected marginally lower this morning, following Asian counterparts, which were left unsatisfied by the G20’s commitment of an extra $2 trillion in output over the next five years.

The UK market posted its third successive gain last week, but things in the rest of Europe and the US weren’t as positive, following some disappointing earnings and economic data reports.

The Hang Seng led Monday’s selloff, dropping 2.2 per cent after Chinese media hinted that banks have trimmed lending to the real estate sector.

Corporate news

Budget clothes giant Primark has buoyed results for owner Associated British Foods (ABF), with sales up 13 per cent in the first half of the year.

ABF says it expects operating profits to be in line with expectations, as its sugar business is hit with slumping global prices.

Bovis Homes has seen pre-tax profit leap to £79m, from £53m, over 2013. The house builder said it expects to deliver “strong” volume increases in 2014, with a 14 per cent return on capital target.

And Mothercare chief executive Simon Calver has resigned with immediate effect, according to the struggling store. Calver will leave at the end of March; the baby goods retailer has yet to appoint a successor.

In the UK

David Cameron will pledge today to up North Sea oil revenues by £200bn, fast-tracking a plan designed to highlight the economic pros of Scotland staying in the UK.

In Europe

Russia has recalled its ambassador to Ukraine, condemning the removal of President Viktor Yanukovich. The interim President, Oleksandr Turchynov, has said the country will look to align with Europe.

Data in focus