18/03/14 Market Movements

The FTSE closed up 36.93 points at  5,605.28 as news of the first casualty in Crimea came too late in the day to majorly affect the closing price.

The FTSE had earlier rallied after Putin said Russia did not want to seize more of Ukraine despite approving plans to make Crimea part of Russia. Putin also said that while Russia would look to defend its own interests, Russia would never seek to start a confrontation with Western powers.

Stock movements
CAT stock is currently up 0.52%  at $95.87

Asos plunged 19% before recovering to close down 8.31% at 5,800p. The drop was caused by negative investor reaction to the news that Asos increased its capital expenditure and lowered its full-year margin. The retailer said it would increase a capital spending programme to achiever longer-term growth rather than short-term profit.