CONSUMER STAPLES: Bunzl: S&P comments on guidance cut

The White House and Kremlin have released readouts of the recently concluded call between Russian President Vladimir Putin and US President Donald Trump, with both noting that Moscow agreed to the implementation of a 30-day energy and infrastructure ceasefire. The White House readout notes that the leaders, "stressed the need for improved bilateral relations between the United States and Russia".

• The White House said: "The leaders agreed that the movement to peace will begin with an energy and infrastructure ceasefire, as well as technical negotiations on implementation of a maritime ceasefire in the Black Sea, full ceasefire and permanent peace. These negotiations will begin immediately in the Middle East."
• The White House added: "The leaders spoke broadly about the Middle East as a region of potential cooperation to prevent future conflicts. They further discussed the need to stop proliferation of strategic weapons and will engage with others to ensure the broadest possible application. The two leaders shared the view that Iran should never be in a position to destroy Israel."
• The White House concludes: "The two leaders agreed that a future with an improved bilateral relationship between the United States and Russia has huge upside. This includes enormous economic deals and geopolitical stability when peace has been achieved."
• Tass reports that Putin agreed to "halt strikes on energy infrastructure for 30 days". Tass notes that Russia also agreed to swap 175 Ukrainian prisoners of war for 175 Russian prisoners of war, to "hand over 23 gravely wounded Ukrainian servicemen to Kyiv, and "set up expert groups on Ukrainian settlement".

RRP usage rebounds to $149.503B this afternoon from $89.496B Monday. Compares to $58.770B (lowest level since mid-April 2021) on February 14. The number of counterparties at 39 from 25 prior.

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