By MarketsFarm

WINNIPEG, Feb. 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Russia is threatening to cut diplomatic ties with Europe if the European Union follows through with its own threat of imposing sanctions on Moscow. The EU is considering sanctions amid calls for the release of Alexey Navalny – a high profile critic of Russian President Vladimir Putin currently in a Russian jail.

– A number of explosions at a fireworks factory in southern India left 11 people dead and at least 34 more injured, according to reports.

– The gross domestic product in the United Kingdom fell by a record annual level of 9.9 per cent in 2020, as the COVID-19 pandemic hit the country’s economy, according to the latest data out of the country. However, GDP grew by 1.2 per cent in December, with the U.K. looking to be moving towards a recovery.