Europe's largest utility Iberdrola posted on Wednesday a first-quarter net profit of 2 billion euros ($2.27 billion), beating the median forecast by analysts polled by LSEG of 1.81 billion euros.

The US has threatened to walk away from peace negotiations if “concrete proposals” are not put forward by Russia or Ukraine.

The climbdown, which came on the eve of Mr Trump’s 100th day in office and just before a fresh set of 25pc tariffs was due to ...