European Markets Make Gains Amid Worsening Ukraine Crisis
European markets are rising Wednesday as Russia launched a more intense phase of its invasion of Ukraine.
The FTSE index in London is up 0.9% at midday, with Paris’s CAC 40 one percent higher and the DAX index in Frankfurt up 0.7%.
Stock markets in Asia and Australia were mixed earlier Wednesday. Japan’s benchmark Nikkei index finished 1.6% lower, while Shanghai’s Composite index and the TSEC index in Taiwan both closed 0.1% lower. Hong Kong’s Hang Seng index dropped 1.8%,, while Mumbai’s Sensex lost 1.3%.
The KOSPI index in South Korea closed 0.1% higher.
Australia’s benchmark S&P/ASX index finished up 0.2%.
In commodities trading, gold was selling at $1,928.20 an ounce, down 0.8%. Oil markets are continuing to rise, with U.S. crude oil trading at $109.07 per barrel, an increase of 5.4%, while Brent crude oil, the international benchmark, is 5.7% higher, selling at $110.96 per barrel.
Russia’s currency, the ruble, was trading at 108.75 to the U.S. dollar, down 3.5%. The Russian Stock Exchange is closed for the third consecutive day after sanctions imposed by a growing list of nations in response to Russia’s attack on Ukraine. The British online newspaper The Independent said Russia’s central bank will allow a limited number of operations for the first time.
In futures trading, all three major U.S. indices are trending slightly higher ahead of Wall Street’s opening bell.
