Global Shares Varied as Ukraine Talks Hope
Global shares varied as Ukraine talks hope – European markets opened at a low level. Asian stocks rose on Wednesday. Investors saw signs of possible progress in negotiations to end Russia’s war with Ukraine. Frankfurt and London declined. Hong Kong and Shanghai won. Tokyo stepped back. Oil rose more than $2 a barrel. Wall Street futures were lower. US stocks rose on Wednesday after Russia announced it would limit military operations near the Ukrainian capital, Kyiv, and northern cities. It was an excellent additional catalyst for a market rally already underway.
In early trading, the FTSE 100 gained 7.529.06, 0.1%. The DAX dropped to 14.631.35, up 1.3% overall. CAC 40 decreased to 6,720.90 and lost 1%. On Wall Street, futures for the S&P 500 Index and the Dow Jones Industrial Average fell 0.4%.
On Tuesday, the benchmark S&P 500 index grew 1.2% and the Dow – by 1%. Nasdaq Composite added 1.8%. Shares in the S&P 500 rose more than 85%. Technical and communication actions helped strengthen the rally, Along with large retail chains, automakers, and other companies that rely on consumer spending.
Apple grew by 1.9%. Netflix up 3.5%. Ford Motor added 6.5%. General Motors experienced a 4.6% increase. The Russian president’s attack on Ukraine on February 24 shook global markets, Which were already standing on the shore due to high US interest rates and China’s economic slowdown.
The Ukrainian delegation to the peace talks in Turkey established a framework within which the country would declare itself neutral; Security in other countries would also be guaranteed. Russia’s deputy defense minister has said that Moscow will suspend military activity with Kyiv and Chernigov. President Joe Biden is not convinced that this will lead to a fundamental change in the war.
In Asia, the Shanghai Composite Index increased 2% to 3,266.60, which reimbursed the previous day’s loss. Since Shanghai, most businesses have shut down to fight the spread of the coronavirus. The Nikkei 225 fell to 28,027.25, up 0.8% overall. Retail sales fell 0.8% after the government said in February. This led to a reduction in retail spending by 2% compared to the November peak.
Hang Seng gains to 22,232.03, for a total of 1.4%. Kospi rose to 2,746.74, for a total of 0.2%. Sydney’s S&P-ASX 200 advanced to 7,514.50, up 0.7% overall. Sensex increased to 58,529.58, up 1%. The markets of New Zealand and Southeast Asia also grew.
The price of American crude oil in electronic trading on the New York Mercantile Exchange became $106.45 per barrel; it increased by $2.21. The Brent oil price in London gained to $109.72 and grew by $2.01. The dollar fell to 121.58 yen. The euro rose to $1.1153.
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