LAST UPDATE 11:20
Developments in Ukraine and new tougher sanctions in Russia are once again causing turmoil in European markets, with Old Continent indices starting the stock market week with losses of more than 3%.
In particular, the pan-European Stoxx 600 index lost 1.7%, falling to 446 points, while the Stoxx 50 high-capitalization index fell 3.1% to 3,846 points, with the banking sector exerting the most pressure, showing strong losses of 6%.
On the other European charts, the German DAX is at 14,213 points, down 2.4%, the French CAC 40 is down 3.1% and is trading at 6,542 points, as is the British FTSE 100, which is down 1.5%, moving at 7,409 units.
The markets of the region are moving at a similar pace, where in Italy the FTSE MIB is at 25,048 units with -2.8%, while in Spain the IBEX 35 loses 1.5% and is moving at 8,356 units.
As in the past, the movement of markets, not only in Europe but also worldwide, is determined by the developments in the war in Ukraine, with President Putin placing the country’s nuclear weapons on high alert as fighting continues. on Ukrainian territory.
The agreement to open negotiations between Russia and Ukraine today in Belarus seems to be putting pressure on them, but the imposition of a new package of extremely stricter sanctions in Moscow over the weekend has restored concerns among investors.
At first, the markets seemed to be “relieved” by the international community’s choice not to target Moscow’s energy exports, but the escalation of the Russian military offensive led to the exclusion of some of the country’s banks from the Swift system, which is expected to cause complications for any kind of Russian exports.
In this climate, after all, oil prices are jumping again today with an increase of 4% and have climbed again to $ 100, while the European gas contract marks a brutal increase of 20% with its price at 114 euros per megawatt hour .
In the same context, US futures show significant pressure for the US market, with losses of more than 1% for all three key indicators of the US market.
Source: Capital
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.
