European stocks rebound as Ukraine tensions fade, Stoxx 600 up 2


(MENAFN– ecpulse)

European stock markets ended notably higher on Tuesday, after Russia reassured markets that any use of military force in Ukraine would be the last resort.

Stoxx      600   advanced 2.06 percent or 6.79 points to  337.15

Stoxx 50   advanced 0.47% to  3136.33 . As of 04.02 a.m. EST.

Putin gave a muted response when asked about any potential conflict in Ukraine, at a Moscow press conference on Tuesday morning. He said there was "no need yet" to exercise Russian authority in Ukraine, and said he was not considering annexing Crimea .

Late on Tuesday, Ukrainian Prime Minister Arseny Yatseniuk said that his government and the Russian administration had opened talks on the crisis. 

Meanwhile, U.S. Secretary of State John Kerry arrived in Kiev on Tuesday and announced economic assistance for Ukraine, in a show of support for its new government .

Russia`s MICEX Index led global markets higher, provisionally closing up by around 5 percent, after losing nearly $60 billion in market capitalization on Monday.

-Russia’s MICEX advanced 5.26% or 67.73 points to 1356.54

Corporate News

Germany`s energy firm  RWE posted its first annual loss in six decades on Tuesda,y caused by nearly $7 billion in writedowns. However, shares rose 2 percent, with analysts saying that the results were better than expected.

Heavily weighted Russian stocks clawed backed Monday`s losses, with MegaFon closing higher by 2.3 percent, and both  Gazprom  and  VTB Bank  climbing roughly 8 percent.

-The British  FTSE 100   advanced 1.72% or 115.42 points to  6823.77

-The French  CAC 40   advanced 2.45% or 105.03 to  4395.90

-Frankfurt’s  DAX 30   advanced 2.46% or 230.26 points to  9589.15


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.