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Euro markets expand their profits – DAX at + 2.2%

LAST UPDATE: 14.10

European stocks are moving higher for a second consecutive session on Monday, with investors weighing in on developments in the Ukraine war, ahead of a new round of talks expected to begin in Istanbul on Tuesday.

In particular, the Kremlin said on Monday that peace talks between Russia and Ukraine could begin in Turkey on Tuesday, adding that it was important that the talks be held closely, despite the small progress of negotiations so far, the agency reported. Reuters.

Ukrainian President Volodymyr Zelensky reiterated that his country is ready to discuss the adoption of a neutral regime as part of a peace agreement with Russia. Meanwhile, US Secretary of State Anthony Blinken sought to clarify President Joe Biden’s comments that Russian President Vladimir Putin “can not stay in power.” The United States does not have a strategy for regime change in Russia, the US Secretary of State told reporters.

On the field, Russia launched new airstrikes Sunday night, including in Kyiv and in the cities of Luzk, Rivne and Kharkiv. The Ukrainian leadership has accused the Russian military of pursuing “inhumane tactics”, referring to the “partial or complete blockade of humanitarian corridors” and the “blockade of besieged cities”, according to Ukrainian presidential adviser Mikhail Pontoliak.

In this climate, the pan-European index Stoxx 600 adds 1.2% to 459 points, with the auto industry leading profits up 1.3%. Shares of oil and gas fell by 0.4%.

In the individual dashboard, the German DAX gains 2.2% to 14,620 points, the French CAC 40 adds 1.9% to 6,680 points and the British FTSE 100 climbs 0.7% to 7,535 points.

On the periphery, the Italian FTSE MIB records gains of 2.05% at 25,060 points and the Spaniard IBEX 35 adds 1.7% to 8,460 points.

In macro of the day, climate among German exporters suffered the biggest drop in March since the onset of the coronavirus crisis, in April 2020, as it collapsed due to the war in Ukraine, announced the economic institute Ifo. The Ifo index of export expectations fell to -2.3 points from 17 points in February.

In search of direction the stock exchanges in the Asia-Pacific region at the beginning of the week, presenting mixed signs against the background of the economic data announced over the weekend in China but also the resurgence of coronavirus cases in the country.

In the Hong Kong Hang Seng is up 1.3%, while Hang Seng Tech is up 3% with a push from the Meituan Rally gaining more than 14%, while Tencent is up 3.8%.

Source: Capital

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