European stocks are seen opening on a positive note Monday as investors await the outcome of another round of talks between Russia and Ukraine planned for today.
Russia escalated attacks in western Ukraine on Sunday with a deadly airstrike on a military base where Ukrainian troops had trained with NATO forces, bringing the conflict closer to Poland.
Asian stocks were mostly lower, with mainland Chinese and Hong Kong markets leading regional declines, after the southern Chinese tech hub Shenzhen was put under a citywide lockdown Sunday to slow an outbreak of Covid-19 and data showed a sharp drop in February’s new bank lending in China.
The Japanese yen slid to a new five-year low and gold declined on firmer U.S. yields ahead of a busy week for central banks.
The Federal Reserve is expected to hike interest rates by at least 25 basis points when it hands down its decision on Wednesday.
Similarly, the Bank of England is expected to hike rates for the third time since December when it delivers its rate decision on Thursday.
The Bank of Japan is expected to maintain a dovish stance on Friday, despite rising inflation.
Oil prices fell around 2 percent in Asian trade on hopes for progress in Russian-Ukraine peace talks.
U.S. stocks ended lower on Friday, as the U.S. moved to sever normal ties with Russia, a measure on U.S. consumer sentiment fell more than expected in early March and Ukraine’s top diplomat said he didn’t see progress in talks with Russia.
The Dow dropped 0.7 percent, the S&P 500 gave up 1.3 percent and the tech-heavy Nasdaq Composite index fell 2.2 percent.
European stocks closed on a positive note Friday as the U.K. economy returned to growth in January and Russian president Vladimir Putin said there were some “positive shifts” in talks with Ukraine.
The pan European Stoxx 600 rose about 1 percent. The German DAX rallied 1.4 percent, France’s CAC 40 index gained 0.9 percent and the U.K.’s FTSE 100 added 0.8 percent.
Business News
European Shares Set For Steady Open
2022-03-14 05:34:58
