(MENAFN– ecpulse)
European stocks were mostly higher in a rangebound amid lack of key economic data early Monday, as focus shifts to Ukraine after the outstanding victory of pro-Russian separatists in Sunday`s vote.
Voters in Donetsk and Luhansk, comprising about 15 percent of the Ukrainian population, held referendums on Sunday on whether they approved of independence, but claims quickly mounted of multiple voting. Despite a call from Russia’s President Vladimir Putin for a delay to allow time for talks with Kiev. The interim government in Kiev has denounced the referendum as illegal and a sham.
As of 03:51 a.m. ET, the Stoxx Europe 600 was up 0.19% at 339.19, with basic materials leading the rally by 0.81% gain. However, the tension over Ukraine limited gains in the early part of the session.
The United States, the European Union and several Western powers have condemned the referendum as illegitimate.
Kiev and the West claim that Russia is fomenting or even directing the unrest in the east, either with the goal of finding a pretext for invading and seizing the region, or of destabilizing Ukraine. Yet, Russia denies that it has agents on the ground in the east.
Meanwhile, EU leaders have warned Russia it faces further sanctions if Ukraine`s presidential election fails to go ahead.
On the European-pan Benchmark, SKY DEUTSHLAND rose as much as 6.31% to 6.739 euros, after British Sky Broadcasting Group Plc confirmed talks to takeover assets in Germany and Italy.
The rally drew support from Asia as well, where China`s Shanghai Composite rose 2.08% to settle at 2,052.87, after the State Council unveiled a blueprint of capital market reforms over the weekend.
- London`s FTSE 100 rose 0.25% to 6,831.69
- Paris`s CAC 40 fell 0.20% to 4,468.29
- Frankfurt`s DAX 30 rose 0.22% to 9,602.63
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