Hopes for a diplomatic solution to the Ukraine crisis helped steady the FTSE 100 index and caused oil prices to fall back today.
Brent crude eased to $94.59 a barrel, having peaked at a seven-year high of $96.78 last night on fears an invasion could lead to significant oil supply disruption.
The FTSE 100 index fell by more than 2% at one point on Monday but was higher today.
There was encouragement from the latest unemployment figures, which showed a jobless rate of 4.1%. However, inflationary pressures are continuing after average weekly earnings including bonuses rose by a bigger-than-expected 4.3% in the three months to December.
