The FTSE 100 rose on Tuesday as London’s leading index bounced back from heavy selling on Monday sparked by Russia- Ukraine tensions.

Just as Monday’s selling was a consequence of developments in Russia-Ukraine tensions, Tuesday’s rally represented a shift in sentiment after signs of de-escaltion.

The FTSE 100 rose after Russia said they were ordering some troops back to their barracks in stark contrast to event comments from Western officials an attack was imminent. Russia had always maintained they had no intention of invading Ukraine.

The FTSE 100 was 0.74% higher at 7,585 going into the close on Tuesday as European indices also gained.

“Today marks something of a calm after the storm, as the FTSE 100 recovered some ground lost yesterday – when the market saw its biggest losses of 2022 to date,” says AJ Bell financial analyst Danni Hewson.

“The moves higher reflect some modest easing of tensions at the Ukrainian border, with Russian troops apparently returning to base for the time being. Oil prices retreated and shares across Europe were higher as investors breathed a sigh of relief.

“It remains a highly tense and uncertain situation though and the US and UK appear to still be warning of an imminent invasion which would likely create even more pronounced volatility in the markets.”

Evraz was among the top risers after the Russia-focused miner crashed more than 30% on Monday. Evraz shares were 4% stronger but no where near recovering yesterday’s drop.

Mining peer Glencore alway enjoyed the support of investors after it’s announced a rebound in profits for 2021 helped by stronger commodity prices. Earnings per share rose to 38 cents per share compared to a 14 cents per share loss in 2020.

“Against the strong commodity backdrop, and leveraging the unique combination of our transition and energy commodities, along with the global reach and scale of our marketing business, the Group delivered an 84% increase in Adjusted EBITDA to $21.3 billion,” said Glencore’s Chief Executive Officer, Gary Nagle.

“Marketing delivered another robust performance, with Adjusted EBIT up by 11% to $3.7 billion, while multi-year or record high prices for many of our commodities, underpinned the 118% jump in Industrial Adjusted EBITDA to $17.1 billion. Net income attributable to equity holders was $5.0 billion.”

National Milk Records (LON:NMR), the dairy-focused gri-tech information services provider, saw revenue rise 6.1% in 2021 as revenue from their core diary information business rose alongside expansion in recently introduced offerings.

National Milk Records recorded revenues of £11.4m driving a 19% increase in EBITDA to 19.5% to £1.145m.

Through a network of milk-recorders, NMR collects and tests milk and diary for approximately 50% of the UK’s two million cows.

NMR’s core testing business was a central driver behind revenue growth, with revenues from Johne’s testing growing by 8.5% compared to the yer prior.

Genomics revenues rose by 17% while Surveillance revenues, which includes NMR’s surveillance tool for Anti-Microbial Resistance monitoring, rose 23%.

“I’m pleased to present a positive set of results for NMR which begins to demonstrate our emergence from the challenges of the Covid-19 pandemic in good health with higher revenues, higher EBITDA, increased levels of investment, no increase in net debt, and higher returns to shareholders. The increase in EBITDA is particularly encouraging as it includes the early stages of the additional investment we are making in our IT team to improve resilience and speed of delivery,” said Andy Warne, Managing Director, National Milk Records.

“In the first half of the year, we continued to invest in line with our strategic plan, focusing on our core services, and pursuing opportunities for step-change. We are enjoying the first revenues from our new genomics facility and are moving closer to the commercial launch of Genocells, a disruptive technology that will enable NMR to target sectors of UK dairy farmers that hadn’t previously adopted NMR’s traditional recording service.”

FTSE 100 sank on Monday as Russia-Ukraine tensions following comments from US officials over the weekend and reports Russia had increased the number of troops on the Ukrainian border.

The FTSE 100 was down 1.9% and the French CAC plummeted 3.4%. The German Dax crashed over 3.1%.

“The prospect of war is rarely good for stock markets, and so the new trading week has begun on a bad note across Europe and Asia as investors fear the alarm clock is about to sound on a physical battle between Russia and Ukraine,” said Danni Hewson, financial analyst at AJ Bell.

“Should Russia go to war with Ukraine, there is no telling how long the battle will last, and the damage wrought on the stock market.”

Evraz was the FTSE 100’s biggest faller slumping over 30% to 302p on Monday morning. Evraz has substantial operations in Russia and any sanctions imposed by the West as a result of Russia invading Ukraine could cripple their business.

IAG gave up 6% as investors departed travel shares on fears a war in Ukraine will lead to people cancelling holidays.

Asset managers were also heavily hit as they tracked global equity markets lower. Abrdn fell 4.8% while Schroders and St James’s Place were both 3.6% weaker.

The injection of uncertainty in markets saw gold rise which was enough to send Fresnillo higher by 4% which was the best performance of any stock listed in London.

Despite the FTSE 100 sinking on comments from US officials over the weekend and a warning from the UK’s Defence Minister for UK citizens to flee Ukraine, Russia maintains they will not invade Ukraine.

If there is no invasion in the short term we could see a rebound in markets. Analyst Danni Hewson highlights the benefits of patience through periods of volatility and panic in markets.

“Uncertainty is terrible for investors, and it will take real nerve to stay invested through war, particularly as news headlines are likely to cause panic on the markets. Yet patience has historically been rewarded as time in the markets is better than timing the markets.”