Strong upward reaction in the European markets, jump over 2% the Stoxx 600

European stock markets are recovering today, marking significant gains after the collapse of the previous days amid an unprecedented rally in prices for oil and other commodities due to the war in Ukraine.

The pan-European Stoxx 600 index jumped 2.4% with banks gaining more than 4%.

One Jerusalem Post article gave some impetus to investment psychology for the prospects of resolving the Ukrainian crisis. According to the report, Moscow has presented to the Ukrainian government its “final” proposal for ending the crisis and is waiting for the response of the President of Ukraine, Volodymyr Zelensky. The report cites sources following a recent meeting between Israeli Prime Minister Naftali Bennett and Russian President Vladimir Putin in Moscow.

The proposal was described as “difficult” but not “impossible”, the Jerusalem Post quoted sources as saying, adding that “the gaps between the two sides are not great”.

The Ukrainian president Volodymyr Zelensky also told ABC News that it has lost interest in NATO, noting that it is open to dialogue on the fate of the republics of eastern Ukraine, Donetsk and Luhansk, which Russia recognizes as independent.

There is also mobility in the diplomatic field as investors await the meeting scheduled for the Fifth Foreign Ministers of the two countries, the first meeting of the Foreign Ministers since the beginning of the invasion.

Russian forces, however, continue to push for Ukraine’s largest cities, with the siege around Kyiv tightening even further.

The German DAX jumped 3.2% to 13,255.09 points, the French CAC 40 strengthened 3.25% to 6,156.90 points, while the British FTSE 100 gained 1.9% to 7,096.28 points.

In the region, the Italian FTSE MIB gained 3.2%, while the Spanish IBEX 35 gained 3.3%.