New Decline in European Stock Markets after renewed Tensions on the Russian-Ukrainian BorderFinance | February 21, 2022, Monday // 16:32| views
European stock markets are under new sales pressure, with US stock futures declining in view of indications of escalating tensions between Ukraine and Russia.
At the beginning of today's trading, European stock exchanges started with increases after the information about a possible summit between Joe Biden and Vladimir Putin to discuss the Ukrainian crisis. However, the Kremlin authorities later noted that there were no specific plans for such a summit, but that a conversation or meeting could be arranged at any time.
However, further information/misinformation about tensions along the Russian-Ukrainian border followed.
This counteracts the initial rise of stock markets in Europe, with stock markets turning red again in the early afternoon. The general European index Stoxx Europe 600 is already falling by 1.2%, the German DAX 30 - by 1.65%, the French CAC 40 - by 1.82%, the British FTSE100 - by 0.5%, the Italian MIB - by 1.7 % and the Spanish Ibex-35 - by 1.1%.
The decline in European stocks is a fact despite a recent survey by IHS Markit, which showed an improvement in business activity in the euro area in February, but with continued rising inflationary pressures.
The Russian stock market is under even greater pressure from sales, with the dollar-denominated RTS index falling by 10.45 and the ruble-denominated IMoex index falling by 8 percent.
Futures on major US stock indexes also resumed their decline, after they initially rose nearly 1% earlier on Monday.
DJIA futures are already losing more than 250 points (down 0.74%), the broad S & P500 index - by 0.93%, and those of the Nasdaq 100 technology index - down 1.45%.
Oil also parried the morning decline and rose again, with Brent futures up 0.65% to $ 94.15 a barrel and US light crude oil WTI up 0.64% to $ 91.65 a barrel.
Natural gas prices in Europe also parried the morning drop and are already trading around Friday's closing levels. The futures of the Dutch gas hub TTF are already trading at around 74 euros per megawatt-hour, after falling by more than 4.5% to 69 euros per MWh at the beginning of today's trading on the news of a possible Biden-Putin meeting.
However, subsequent reports of rising tensions between Ukraine and Russia led to a gas spike to 76.50 euros before an attempt to stabilize about 74 euros per megawatt-hour.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!