May 19, 2022

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Live news updates: Russian stocks, ruble rebound as peace talks boost hopes

Live news updates: Russian stocks, ruble rebound as peace talks boost hopes

European and Asian stocks rose on Tuesday as the prospect of progress in peace talks between Russia and Ukraine boosted market sentiment, while oil prices eased after falling in the previous session.

The European regional Stoxx 600 index opened 1 percent higher, with gains for banks and automakers, although it has been down more than 6 percent for the year so far. London’s FTSE 100 rose 0.8 per cent and Germany’s Stoxx 600 regional stock index rose 1.2 per cent.

In Asia, Hong Kong’s Hang Seng Index is up 0.9 percent, although it has also remained down 6.5 percent for the year. Japan’s Topix gained 0.9 percent, while China’s CSI 300 index of shares listed in Shanghai and Shenzhen fell 0.3 percent.

Envoys from Moscow and Kiev met in Istanbul on Tuesday to discuss a possible peace deal.

Many investors expect the effects of the war, including higher prices for commodities and minerals produced in countries, to continue to affect financial markets.

The tragic war in Ukraine led to a global energy shock. The BlackRock Institute wrote in a note to clients. “The [US central bank] He started talking firmly about inflation and expected a significant increase in prices.”

Brent crude, the international oil standard, fell 0.5 percent to $111.90 a barrel. That was about 15 percent higher than the closing level on February 23, on the eve of Russia’s invasion of Ukraine, but the price has risen to nearly $140 this month. US West Texas Intermediate shares lost 0.6 percent to $105.28.