The start of negotiations between Kiev and Moscow has tempered the nerves of Asian investors, who have shown signs of recovery. However, the little progress of the first round of talks and the harsh attack launched against Kharkov, the second largest city in Ukraine, have revived the fear.
Among the main stock markets of the “old continent”, the ones that fell the most were those of Milan (-2.7%), Paris (-2.5%) and Frankfurt (-2.4%).
“European stock indices remain under negative pressure from the war,” commented SwissQuote analyst Ipek Ozkardeskaya.
At the same time, the most important benchmark on Wall Street, the Dow Jones, sinks 1%while the S&P 500 falls 0.6% and the Nasdaq is stable.
“The business world builds a fortress to isolate Russia from the international community,” said Susannah Streeter, an analyst at Hargreaves Lansdown.
And companies around the world are responding “by freezing transactions with Moscow and abandoning their financial investments worth billions,” he added.
Thus, the British hydrocarbon giant Shell announced on Monday to dispense with its participation in several joint projects with the Russian group Gazprom due to the invasion of Ukraine, following the example of BP that separated from the Russian company Rosneft.
Under this scenario, grain futures were trading at the opening of the Chicago Market with a positive trend: soybeans grew 2.7% to settle at US$620.96 the ton in futures contracts. Meanwhile, corn gained 5% to US$288.97 a tonne, and wheat rose 4.8% to US$358.34 a tonne.
Regarding the price of oil, West Texas Intermediate (WTI) crude oil, which is listed on the New York futures market (Nymex), gained 6.6% and was traded at US$102.07 a barrel in contracts for delivery in April, while Brent, which operates on the London electronic market (ICE), was trading at US$104.36 and climbs 6.5% for delivery in May.
Source: Ambito
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