the bags of Europe closed down on Monday (28), several of them with losses close to 1%, in a session in which investors continued to follow the military conflict between Russia and Ukraine and also new sanctions against Moscow.
Today, representatives of the two nations met on the Ukrainian border with Belarus to discuss a possible diplomatic resolution of the crisis.
However, while Ukraine sent its defense minister and other senior officials to the meeting, the Russian delegation was led by the adviser to the Russian president. Vladimir Putin for Culture – an unlikely envoy to the end of the war and a sign of how Moscow views the negotiations.
The Stoxx 600 index, which gathers the main actions in the region, ended the session down 0.09%, at 453.11 points.
The market follows news that Putin has put Russian nuclear forces on high alert, which in theory would allow for a faster launch of the missiles.
White House spokeswoman Jen Psaki said the lawsuit was part of a pattern of threats fabricated by the leader to justify further aggression.
This weekend and today, the Americans and their allied countries have imposed more sanctions on Russia’s economy. United States, European Union (EU) and United Kingdom agreed to expel Russian banks from the Swift global financial systemin addition to applying blockades to the country’s central bank, a measure that was followed this morning by Japan and Canada.
Also, the governments of France and Switzerland reported this Monday that are preparing to confiscate property of Russian authorities and business leaders who are being targeted by EU sanctions.
In response to the internal crisis that begins to set in with the sanctions, the Russian Central Bank raised the basic interest rate from 9.5% to 20% per year and applied capital controls, in order to contain the depreciation of the ruble – the local currency. – and inflation. As a result, the Moscow stock exchange did not operate on Monday, as informed by the entity.
And, to discuss the conflict in Eastern Europe, the United Nations General Assembly (UN) meets in an emergency meeting this afternoon.
First to speak, Ukraine’s ambassador to the UN, Sergiy Kyslytsya, highlighted that his country “is experiencing a war provoked by Russia, by a person who is hiding in a bunker. And we know what happened in May 1945 to the person who led the war in a bunker in Berlin.”
The UN Secretary-General, Antonio Guterres, stressed that the violence in Ukraine needs to stop now. “The tragedy in Ukraine could spread to areas beyond the country.”
In London, the FTSE 100 dropped 0.42% to 7,458.25 points, while in Frankfurt, the DAX dropped 0.73% to 14,461.02 points.
In the British market, BP’s share tumbled 3.95%, after the company announced that will exit its nearly 20% stake in Russian oil company Rosneft.
With this move, the financial impact for BP could reach $25 billion, depending on what the company can recover from the sale of Rosneft’s stake, valued at $14 billion at year’s end, according to the company.
Milan’s FTSE MIB lost 1.39% to close at 25,415.89. The CAC 40, from Paris, also dropped 1.39%, to 6,658.83 points.
In Lisbon, the PSI 20 went against the majority and rose 1.24%, to 5,563.14 points, with EDP shares up 3.98% and EDP Renováveis, up 9.15%. Madrid’s Ibex 35, in turn, registered a drop of 0.09%, to 8,479.20 points.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
