European stocks closed higher on Tuesday, with indices closing away from the day’s low as investors continued to watch the escalation of the Ukrainian crisis, with Eastern Europe now on the brink of ignition following its decision. Russian President Vladimir Putin to recognize the breakaway “Republics” of Donetsk and Lugansk.
The pan-European STOXX 600 index closed with small gains of 0.1% at 455.12 points, although it started trading with heavy losses of more than 2%.
German DAX fell 0.3% to 14,693.00 points in the wake of German Chancellor Olaf Solz’s decision to freeze Nord Stream 2 certification procedures.
For its part, Britain has decided to hit Russian banks with sanctions, while EU foreign ministers have decided to strike. agreed to impose sanctions on 27 individuals and entities from Russia. The sanctions also target banks, the defense sector and restrict Russia’s access to European capital markets.
On the board, the French CAC 40 completed the trading with marginal losses of 0.01% at 6,787.60 points, while the British FTSE 100 strengthened by 0.1% to 7,494.21 points.
In the periphery, the Italian FTSE MIB closed with marginal losses of 0.02%, while the Spanish IBEX 35 gained 0.05%.
Hopes for a diplomatic solution to the Ukrainian crisis are slim. Russian President Vladimir Putin today clarified that the Minsk peace agreement on Ukraine no longer exists, while clarifying that Moscow has recognized the two breakaway “Republics” within the borders of the Donetsk and Luhansk regions, although some parts of these regions controlled by Ukrainian government forces.
In a press conference in Moscow, the Russian president said that a Ukraine armed to the teeth is something that can not be accepted, adding that Ukraine should be demilitarized.
As for the operations of Russian troops in the breakaway regions, the Russian president said that at the moment it is impossible to predict the specific actions of the Russian units in Donbas.
Source: Capital
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