(MENAFN– ecpulse)
European bourses saw very cautious start Tuesday, with stocks pointing slightly lower ahead of the speech by Russian President Vladimr Putin on the Crimean accession.
Risk aversion was quite the sentiment in the early hours of trade, although tension eased over the crisis in Crimea after some crucial developments over the past two days. But traders remained extremeley cautious ahead of the Putin speech before lawmakers and regional leaders at 03:00 p.m. in Moscow.
The Stoxx Europe 600 was down 17% at 325.29 as of 05:03 a.m. ET, with technology shares leading the slide, prompting the benchmark lower, after posting its biggest advance in two weeks.
- London`s FTSE 100 fell 0.17% to 6,557.06
- Paris`s CAC 40 fell 0.13% to 4,266.43
- Frankfurt`s DAX 30 0.50% 9,134.60
All eyes are on the Russian President in Moscow, where he is expected adress the country`s parliament later on Tuesday on the accession of Crimea, following the controversial referendum that culminated in Sunday`s vote to join the Russian Federation.
Losses were slightly capped by good news out of the German top Court this morning, as lawmakers confirmed the legatlity of the euro area`s permanent resuce fund, the European Stability Mechanism (ESM), as widely expected.
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