May 20, 2022

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European markets positive before talks between Ukraine and Russia

European markets positive before talks between Ukraine and Russia

LONDON – European shares are expected to open higher on Monday ahead of further talks between Russian and Ukrainian negotiators.

United kingdom FTSE index The index is expected to open 14 points higher at 7,160 points in Germany Dax 64 points higher at 13721 France CAC 40 Up 24 points at 6296 and Italy FTSE MIB It rose 48 points to 22,498, according to data from IG.

Global attention remains on the war in Ukraine after a weekend of intense fighting around the capital, Kyiv, while Russian forces bombed cities Across the country, killing civilians who can not escape. Russia also attacked a Ukrainian military training center near the Polish border on Sunday, killing 35 people and wounding 134.

Sanctions continue to weigh heavily on Russia, with the financial fallout from the Moscow invasion expected to become more severe in the coming days before the scheduled sovereign bond payments are made.

Talks are taking place again on Monday in an effort to reach a solid ceasefire and find room for any compromise between Russia and Ukraine’s demands, although previous discussions ended in failure.

The US Federal Reserve is also in focus this week as expected Raise the target federal funds rate by a quarter of a percentage point from zero at the end of its two-day meeting on Wednesday.

Investors are also looking to the central bank on its new forecasts for rates, inflation and the economy, given the uncertainty of escalating geopolitical tensions.

US stock futures rose in overnight trading While Stocks in the Asia-Pacific region were mixed In Commerce Monday Investors are watching the Covid wave in China.

See also  Shell makes 'difficult' decision to buy Russian crude, pledges to buy elsewhere 'whenever possible'

There are no earnings or major data releases in Europe on Monday.

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– CNBC’s Yun Li contributed to this market report.