Ukraine War: European Stocks Rebounded Cautiously

European stocks rebounded cautiously, the market continued to pay attention to the situation in Ukraine, the impact of sanctions on Germany’s GDP decline narrowed.

European shares rose on Friday (Feb 25), tracking a rebound in global markets as market participants assessed the impact of Western sanctions on Russia following the invasion of Ukraine.

The UK FTSE 100 index, France CAC index and Germany DAX index rose by 1.27%, 0.54% and 0.37% respectively.

The pan-European Stoxx 600 was up about 0.6%, with major exchanges and most sectors in positive territory. Chemical stocks bucked the trend and fell about 0.7%.

Russia-Ukraine conflict

Market sentiment was cautious on Friday as investors focused on the possibility of further Western sanctions on Moscow. Should Swift be targeted or coordinated action by the U.S. and the U.S. to crack down on Russian oil and gas exports could have broader implications for the global economy. Russia is the world’s second largest natural gas producer and one of the world’s largest oil producers.

Russia began its land, air and sea strikes on Ukraine on Thursday, sparking fears of a humanitarian crisis and sending shockwaves through financial markets.

Ukrainian Foreign Minister Dmytro Kuleba said several explosions were heard around the city after the capital Kiev was hit by Russian rockets on Friday morning. At least 137 people have been killed and 316 wounded, Ukrainian President Volodymyr Zelenskyy, who has pledged to stay in Kiev, said in a statement.

The United States and Western allies have condemned the Russian attack and implemented a sanctions package targeting banks and oligarchs to pressure Moscow. But Kuleba angrily called for tougher international measures to deter Russia, in particular preventing Moscow from using the SWIFT payment system.

Stock market recovers losses

Global stock markets tumbled Thursday on news of the start of Russia’s attacks, but U.S. stocks traded higher after opening sharply lower, ending in positive territory with a stunning rebound.

In Asia Pacific, stocks were mostly higher on Friday, with Japan’s Nikkei 225 up nearly 2%, South Korea’s Kospi up 1%, Australia’s S&P/ASX 200 inching up 0.1%, China’s Shanghai Composite up 0.54% and the Shenzhen Composite up 0.54%. rose 1.08%. Hong Kong’s Hang Seng Index fell 0.14%.

In Europe, boosting the market tone on Friday was growth data from Germany, the latest showing that the euro zone’s largest economy contracted less than initially reported, with German output falling 0.3% in the fourth quarter, compared with a preliminary reading of -0.7 %.

individual stock trends

Shares in German chemical giant BASF fell 4.5% after it forecast lower operating profit in 2022 as its supply chain remains affected by disruptions.

Shares in London-listed education company Pearson rose more than 8% on news that it launched a 350 million pound ($470 million) share buyback after reporting results in line with forecasts for 2021.

Valeo (PA:VLOF) shares fell 7.7% after the auto parts maker warned that its business continued to suffer from chip shortages.

European stocks rebounded cautiously, the market continued to pay attention to the situation in Ukraine, the impact of sanctions on Germany’s GDP decline narrowed.

*Editor’s note: This article is for reference only and does not constitute an offer, solicitation or invitation, inducement, any representation of any kind or form, or any suggestion or recommendation. Readers should use their independent thinking skills to make their own investment decisions , If any loss is incurred due to relevant suggestions, it has nothing to do with “istanbulpost.com.tr”, the editor and the author.

Reviewer overview

Ukraine War: European Stocks Rebounded Cautiously - /10

Summary

European stocks rebounded cautiously, the market continued to pay attention to the situation in Ukraine, the impact of sanctions on Germany's GDP decline narrowed.

0 Bad!