Meeting Between Ukraine And Russia in Turkey: Investors Step on the Brakes

Market participants are therefore watching exactly whether the meeting of the foreign ministers of Russia and Ukraine planned today ne is successful in Turkey. It is the first high-level talks between the two sides since the beginning of the war. Hopes for the meeting between Ukrainian Foreign Minister Dmytro Kuleba and his Russian colleague Sergey Lavrov had recently given vague signals of a willingness to compromise on both sides.

The DAX lost around one percent in early trading to around 13,700 points, but can thus defend the vast majority of its price gains on Wednesday. The hope of a rapprochement between the warring parties Russia and Ukraine had catapulted the DAX upwards yesterday.

But there is another important date: Today the ECB is discussing the future course of monetary policy. In view of the war in Ukraine, it is doubtful whether the ECB will today announce an exit from the ultra-loose monetary policy that has been in place for years. Finally, the conflict is also likely to have serious economic consequences. The interest rate decision will be announced at 1:45 p.m., after which ECB President Christine Lagarde will hold a press conference. Strong US targets The rally continued in the USA in the evening, although not at the same pace as here: The Dow Jones closed two percent higher to 33,286 points. The tech-heavy Nasdaq advanced 3.6 percent to 13,255 points. The broad S&P 500 gained 2.6 percent to 4277 points.

In Japan, the Nikkei closed up 3.9 percent to 25,690 points. The CSI 300 index of the 300 most important companies in mainland China rose by 1.6 percent to 4293 points. In the Chinese special administrative region of Hong Kong, the Hang Seng index recently rose by 0.8 percent to 20,796 points.

WTI and Brent rebound Oil prices rose again on Thursday morning. In early trading, a barrel (159 liters) of North Sea Brent cost $113.29. That was $2.15 more than the day before. The price of a barrel of the US WTI variety rose by $1.20 to $109.90.
The price movements on the oil market have been extreme in the past few days: on Monday, oil prices had risen dramatically and reached their highest level since 2008. The Brent price had risen to a good $139, WTI crude oil had cost more than $130. A sharp counter-movement followed yesterday.

The gold price, which had recently approached its all-time high of $ 2,075 per troy ounce, fell significantly in early trading. Currently the minus is more than ten percent to around 1980 dollars. Just a snapshot. “The further increase in inflation expectations and the at times turbulent movements on the financial markets should support gold prices for a while longer – taking into account the possibility of price setbacks at any time,” comments Ulrich Stephan, chief investment strategist for private and corporate customers at Deutsche Bank.

VW boss Diess for a powerful approach to PutinVolkswagen boss Herbert Diess has spoken out in favor of a powerful approach and the greatest possible sanctions against Russia’s President Vladimir Putin. The aim must be to bring about an end to the Ukraine war as soon as possible from a position of strength through negotiations on an equal footing, said Diess. “I believe that Europe and Germany can suffer greatly in a protracted Ukraine conflict,” he added. Against the background of China’s position in the conflict, according to Diess, VW is not yet concerned about the Chinese business.

Reviewer overview

Meeting Between Ukraine and Russia in Turkey: Investors Step on the Brakes - /10

Summary

Before the foreign ministers' meeting between Ukraine and Russia in Turkey, investors are bringing yesterday's price gains to safety.

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