Stock Groups

3 Things to Watch -Breaking

by Mike Robinson

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© Reuters.

By Dhirendra Tripathi

Investing.com – Stocks came under pressure on Monday after a weekend of rising tensions and increasing sanctions on Russia over its invasion of Ukraine.

Banks were especially affected. Officials from America and Europe attempted to stop Russian banks accessing the SWIFT international banking messaging system. This made it more difficult for Russian bankers to transfer money abroad for payment. Both moves choked off Russia’s financial system, forcing it to close local stock markets.

Russian currency dropped to record lows and American television showed footage of Russians standing in lines trying to withdraw cash from ATMs.

Reuters reports that the Nasdaq is on course for the sharpest drop in two months since the outbreak of the pandemic.

A number of Russian companies are also being pressured to exit investments in Russian projects by the Ukraine news. Oil giant BP (NYSE) announced that it will sell its almost 20% share in Rosneft over the weekend, while Shell (LON) stated Monday that it would be selling its Gazprom (MCX) stake.

The world is continuing to press Russia for more divestitures.

These are the three factors that will impact markets tomorrow.

1. Shell Divests

Shell PLC (BSS:) announced Monday that it will end its joint ventures after Russia’s invasion of Ukraine with Russian state-owned oil company Gazprom. The oil major’s shares fell by almost 5%.

Shell will dispose of its 27.5% share in Russia’s Sakhalin II Liquid Plant and half-share in Russia’s Salym Petroleum Development, Gydan and Gydan Energy Ventures. 

2. Salesforce earnings

Salesforce.com Inc (NYSE:)’s fourth-quarter earnings per share is seen at 75 cents on likely revenue of $7.25 billion, according to analysts tracked by Investing.com.

3. Earnings from retail

Target Corporation (NYSE: ) expects to post fourth quarter revenue of $31.36 million and profit per share at $2.85. It kicks off a week of record retail earnings at discount and department stores.

–Reuters and Investing.com staff contributed to this report.

 

 

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