European markets pull back amid doubts over the latest Russian pledges over Ukraine

European markets pull back amid doubts over the latest Russian pledges over Ukraine

March 31, 2022: -European stocks retreated on Wednesday following the latest round of talks between Russia and Ukraine to find a solution to the conflict.

The pan-European Stoxx 600 fell 0.5% by around noon London time, with travel and leisure stocks shedding 2.4% to lead losses, while oil and gas stocks gained 2.5%.

In terms of individual share price movement, British education and publishing company Pearson plunged more than 10% after U.S. investment firm Apollo dropped its takeover bid.

At the top of the Stoxx 600, Swedish mining company Boliden gained 4.9%.

On Tuesday, investor sentiment was boosted following negotiations between Russian and Ukrainian officials in Turkey. Russia’s deputy defense minister claimed Moscow had decided to “drastically” cut back its military activity near Ukraine’s capital.

Alexander Fomin, who spoke following the talks in Istanbul, said Russia would slow its military operations near Kyiv and Chernihiv for peace talks to progress. Russia previously claimed that it would reduce military operations in other parts of Ukraine but then continued its advance.

Growing hope for a cease-fire appeared to boost investor sentiment Tuesday, as Dow Jones Industrial Average futures rose 200 points or 0.6%. S&P 500 futures also climbed 0.6%, while Nasdaq 100 futures climbed 0.7%. Meanwhile, the price of U.S. benchmark West Texas Intermediate crude oil, which spiked on the heels of Russia’s invasion of Ukraine, fell more than 4% to $100 per barrel.

Doubts have set in over the pledge, however. While the Russian military has begun moving some of its troops in Ukraine away from areas around Kyiv to positions elsewhere in Ukraine, Pentagon Press Secretary John Kirby warned that troop movements do not amount to a retreat.

Shares in Asia-Pacific were mixed in Wednesday trade as investors watched for developments surrounding the war in Ukraine. Stateside, futures pointed to a slightly lower open on Wall Street as traders keep tabs on many vital economic reports while monitoring the Federal Reserve’s planned interest rate hikes.

On Tuesday, the Job Openings and Labor Turnover Survey showed 11.3 million job openings, higher than the 11.1 million expected. The ADP will also release its private payrolls data ahead of the closely watched monthly jobs report on Friday.

Guy Miller, chief market strategist and head of macroeconomics at Zurich Insurance, told CNBC that markets are following the “typical dynamic during wartime despite recent volatility.”

About Us

We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.

Recent Posts

Transforming the delivery of Professional Services Worldwide |  Zain Ali

Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.

The must have Travel App after lockdown | Tiff Burns

Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.

The Technology Expert | Tarcisio Vergani

Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.

Perpetua Investment Group A Man of Action | Mehdi El Jazouli

Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.

European markets pull back amid doubts over the latest Russian pledges over Ukraine