Economic calendar: Oil price surge, Russia-Ukraine talks

• European stock markets expected to open lower

• Oil prices surge on Russian sanction risk

• Third round of Russia-Ukraine talks expected

European futures point to a lower opening of today's cash session for stock market indices from the Old Continent. Surge in oil prices, triggered by the possibility of the US imposing oil sanctions on Russia, are raising growth concerns that are putting pressure on equities. Conflict in Ukraine is far from over and casualties on both sides mount. Attempts to evacuate civilians from besieged cities were unsuccessful. Third round Russia-Ukraine talks are expected to be held today but the chance of any major breakthrough is very small. Economic calendar is empty so traders may want to focus on a newsflow.

9:30 am GMT - Euro area, Sentix index for March. Expected: 9.0. Previous: 16.6

Top macro events this week

• Thursday, 12:45 pm GMT - ECB rate decision

• Thursday, 1:30 pm GMT - US CPI inflation for February

• Friday, 1:30 pm GMT - Canadian jobs report for February