Russia-Ukraine war impact on global markets, international oil prices
India Today
Despite uncertainty about the Ukraine and worries over inflation and the pandemic, an overnight turnaround on Wall Street seemed to buoy Asian and European shares.
Market benchmarks rose in London, Paris, Tokyo and Shanghai but fell in Hong Kong. Russian shares gained 15 per cent, rebounding after a nosedive on Thursday as the invasion of Ukraine began.
The price of oil hovered just below $100 per barrel and prices of most other commodities fell after surging the day before.
Despite uncertainty about the Ukraine and worries over inflation and the pandemic, an overnight turnaround on Wall Street seemed to buoy Asian and European shares.
France's CAC 40 edged up 0.6 per cent in early trading to 6,562.96, while Germany's DAX rose 0.2 per cent to 14,083.92. Britain's FTSE 100 gained 1.2 per cent to 7,295.52.
But U.S. futures augured a less upbeat start for New York markets, with the future for the benchmark S&P 500 down 1.2 per cent while the contract for the Dow industrials was 1 per cent lower.
Investors appeared relieved that sanctions against Russia were not as severe as they might have been, even as Ukraine's president pleaded for international help to fend off an attack that could topple his democratically elected government, cause massive casualties and ripple out damage to the global economy.
Market players might be betting that the crisis could slow moves by central banks to cool inflation by raising interest rates and unwinding other support for pandemic-burdened economies, said Ipek Ozkardeskaya of Swissquote Bank SA.
