Positive turn in the European markets

European indices seem to leave behind the fears of the escalation of the Ukrainian crisis, as not only have they erased the strong losses they recorded in the first hours of trading but they are now trying to stabilize on positive ground.

It is recalled that having taken the baton from the Asian markets, the European markets started today with losses of more than 2%.

However, the pan-European Stoxx is now up 0.2% at 455.38 points, as is the high-capitalization Stoxx 50, which has lost more than 2% and is now up 0.4% at 3,998 points.

Similarly in the rest of the European charts, the German DAX index from -2.4% has been found at + 0.4% and the 14,731 points, the French CAC 40 is at 6,809 points with + 0.3%, as well as the British FTSE 100 which increased by 0.4% and moves to 7,514 units.

The same climate prevails in the markets of the region, where in Italy the FTSE MIB is around the unchanged at 26,039 units, while in Spain the IBEX 35 strengthens by 0.3% to 8,533 units.

In the key news that determines the pace of markets, not only in Europe but also worldwide, the President of Russia. Putin signed decrees yesterday recognizing the self-proclaimed separatist “democracies” in eastern Ukraine, and then ordered the defense minister to send a Russian peacekeeping force to the region.

In the first reactions of the international community, the leaders of the USA, France and Germany said that Putin’s decision “will not go unanswered”, with President Biden having already signed an executive decree targeting the breakaway regions of Ukraine.

In this climate, energy markets were the first to react, with oil and gas prices rallying, as any Western sanctions are likely to target Russian exports to both.