The Ukraine war remains in focus as European markets traded higher

The Ukraine war remains in focus as European markets traded higher

April 25, 2022: -On Thursday, European stocks traded has increased as investors kept an eye on developments in the war between Russia and Ukraine.

The pan-European Stoxx 600 index traded 0.4% higher, with most sectors in positive territory apart from primary resources, financial services, healthcare, insurance, and utility stocks.

Shares of Nestle were increased 2.2% after the food group confirmed its margin and sales growth targets for 2022, while shares of engineering group ABB were increased 4.9% after the company posted a big surge in orders during the engineering and technology company’s first quarter.

AkzoNobel was one of the best performers on the Stoxx 600 index, with its shares up 5% after the Dutch paints and coatings maker reported stronger-than-expected quarterly core earnings as higher pricing helped offset supply chain issues, a Covid resurgence in China, and the impact of Russia’s invasion of Ukraine, Reuters reported.

The war in Ukraine remains at the forefront of market participants’ minds in Europe, with the second phase of the conflict, focusing on the Donbas region in eastern Ukraine, fully underway now.

Russia has set a new request for surrender in the heavily destroyed city of Mariupol, where Ukrainian forces and reportedly hundreds of civilians are holed up in the Azovstal steel plant. Meanwhile, officials in Ukraine continue to call for more weapons support and faster delivery as Russia intensifies its bombardment of the Donbas.

The Ukraine War has catalyzed a tsunami of adverse economic events around the global economy – and markets are remaining pretty much blind to the long-term consequences.

United Nations Secretary-General Antonio Guterres asked Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy if they would take meetings with him in their respective capitals.

On Thursday, U.S. stock futures increased in overnight trading as investors digested more quarterly reports from the likes of Tesla and United Airlines. Weekly jobless claims are slated for release.

In Asia-Pacific markets overnight, shares were mixed as investors watched China’s Covid-19 situation and moved in Japanese yen.

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The Ukraine war remains in focus as European markets traded higher