Flexibility let the City keep its crown after Brexit, says Lord Hill – live updates – The Telegraph

Good morning.

It's set to be a positive start for the FTSE 100, which is poised to reverse yesterday's losses at the open.

The blue-chip index closed down lower on Monday, dragged down by oil prices as fresh lockdowns in Shanghai sparked fears over demand.

But hopes of progress in negotiations between Russia and Ukraine helped to boost investor sentiment, with US and Asian stocks rising overnight.

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Asian stocks rose on Tuesday as a slump in oil and the prospect of more ceasefire talks between Russia and Ukraine helped sentiment.

Shares rose in Japan and Hong Kong but wavered in China.

Japanese shares led gains in Asian stocks as the Bank of Japan defended its ultra-easy stance, while oil slid on fears of lower demand from China as Shanghai applied a "zero-Covid" strategy by locking down.

Japan's Nikkei gained 0.91pc in early trade, while MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.64pc.

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Flexibility let the City keep its crown after Brexit, says Lord Hill - live updates - The Telegraph