What you need to know before the US open
With the week set to get progressively busier, a quieter monday will no doubt see investors look towards the ongoing turmoil in Ukraine.
Ousted President Viktor Yanukovich is now wanted for the mass murder of protestors.
And Ukraine has said it needs $35bn in foreign aid over the next two years in order to keep the country above water.
In Europe, markets outside the UK are trading higher on the back of a better-than-expected IFO report from Germany. The report showed business confidence has improved to a level not seen since July 2011.
IFO’s business climate index increased to a seasonally-adjusted 111.3 in February, above forecasts for 110.6 and up from a reading of 110.6 in January.
The price of gold has climbed to a three-month high today, suggesting investors remain concerned about growth, despite the G20’s commitment of an extra $2 trillion in output over the next five years.
Corporate news
Chipmaker RF Micro Devices is going to buy TriQuint Semiconductor for around $1.6bn in an all-stock deal.
TriQuint’s shares shot up 29 per cent in premarket trading to $11.9. RF Micro’s stock rose 17 per cent.
MtGox is resigning from the Bitcoin Foundation board, according to the latter's executive director Jon Matonis.
In the UK
HSBC, the country’s largest bank, missed profit expectations in 2013. They rose nine per cent to $22.6bn – lower than the consensus estimate of $25bn.
In Europe
Matteo Renzi has made his first speech to the Italian parliament as he seeks a vote of confidence in the senate.
And Pope Francis has created a new department to monitor the Vatican’s finances and administrative affairs – the biggest move yet in changing an often-opaque system.
Data in focus
- 3.30pm: Dallas Fed Feb regional manufacturing report