1. Putin puts pressure on Aussie prices
The Ukraine war is adding to inflationary pressures with 100 supermarket staples set to rise between 10% and 20% soon. The pandemic supply problem had already pushed inflation up but the Russian invasion has pumped up the price of oil, which affects transport costs, the making of packaging, cans and plastics and even the production of food. The CEO of SPC expects prices of his fruit and vegetable products to rise by as much as 20% or his business will go broke!

2. Give peace a chance
Despite the Russian invasion of Ukraine still worrying stock markets, local stocks are expected to open higher today. The local share market is tipped to open higher today despite news about Russian bombs near the Polish border and the US central bank set to raise interest rates this week for the first time since the pandemic was declared in February 2020. Peace talks are investors greatest potential help, and, over the weekend, European stocks rose after Vladimir Putin said “certain positive shifts” had occurred in the talks between the Kremlin and Ukraine.

3. Here comes the sun
Billionaires Mike Cannon-Brookes and Andrew Forrest are digging deep to invest in a solar power project that will export power to Singapore. Cannon-Brooks of Atlassian and Forrest of Fortescue Metals Group have joined a $210 million raising of capital, which will seed a $30bn power business that collects sunlight from the Northern Territory’s outback via a solar panel ‘farm’ and then send the power to Singapore via a cable. The business is predictably called Sun Cable.

4. China continues push for Covid-zero, locks down technology hub, Shenzhen
China placed the 17.5 million residents of the southern city of Shenzhen into lockdown for at least week, seeking to halt a growing Covid-19 outbreak with a move that could cause disruption and production delays in the key technology hub and port. The lockdown, which came after virus cases doubled nationwide to nearly 3,400, will be accompanied by three rounds of city-wide, mass testing, according to a government notice.

5. ASX to rise; Nasdaq leads falls on Wall St
Futures markets show the ASX is set to open about 20 points higher today, with the AUD -0.9% to 72.93 US cents. On Wall St: Dow -0.7% S&P 500 -1.3% Nasdaq -2.2%. Brent crude +3.1% to $US112.67 a barrel. 2-year yield: US +0.04% (1.75%) Australia +0.03% (1.28%). 10-year yield: US -- (1.99%) Australia +0.03% (2.39%).