European stock markets continued to trade negatively on Friday as investors made gains after the strong gains of the previous days as the Russia-Ukraine talks seem to be losing momentum.
The negotiations of the last few days, although they have given a boost to the investment psychology, have not shown tangible results. At the same time, the situation on the ground is deteriorating, with Russian bombing raids on Kyiv and other major Ukrainian cities intensifying despite calls for an end to the violence.
Russian Foreign Minister Sergei Lavrov has reiterated the threat of attacks on convoys carrying Western weapons to Ukraine. This followed new rocket attacks in the west of the country, with areas near Lviv airport receiving new pounding.
Meanwhile, US President Joe Biden will speak today with Chinese counterpart Xi Jinping over the war in Ukraine following recent White House warnings of new sanctions if Beijing offers assistance to Russia.
On the board, the pan-European Stoxx 600 index fell 0.2% to 449.54 points.
However, the index is heading for the best weekly performance since November 2020 after the rally of the previous days that followed the news that the two sides have returned to the negotiating table in an attempt to reach a peace agreement. The Stoxx 600 is now about 1% away from making up for all the losses from Russia’s February 24 invasion of Ukraine.
The German DAX lost 0.8% at 14,278.37 points, the French CAC 40 also fell 0.8% to 6,558.78 points, while the British FTSE 100 fell 0.3% to 7,362.14 points.
In the periphery, the Italian FTSE MIB shows marginal changes, while the Spanish IBEX 35 loses 0.4%.
Source: Capital
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