Global stocks rebounded slightly Friday on bargain hunting, one day after slumping as Russia invaded Ukraine, while oil declined from 2014 peaks.
London stocks jumped 2.0 percent nearing 1200 GMT, while Frankfurt and Paris won 1.5 percent and 1.6 percent respectively in afternoon eurozone deals. Asian equities mostly bounced back as investors took their lead from a rally on Wall Street after Washington decided against imposing the stiffest sanctions on Russia.
“Asian and European stocks are staging a slight recovery on hopes that there could be a limited fallout from the ongoing security crisis in Eastern Europe,” Exinity analyst Han Tan told AFP.
Europe’s key indices had each tumbled by about four percent Thursday after Russian President Vladimir Putin ordered a wide-ranging attack on neighbouring Ukraine, while oil prices rocketed past $100 for the first time since 2014.
World oil prices slid Friday, however. Russia’s attack on Ukraine is continuing unabated,” said Commerzbank analyst Carsten Fritsch.
“Yet energy prices have settled down again amazingly quickly after surging dramatically. Speculation had been growing for weeks about Russia’s assault, which has stoked fears about the region’s supplies of commodities including wheat, metals and crude.
Investors have also been fretting over the impact of any sanctions Western leaders would impose on Moscow. Despite a chorus of outrage at Putin’s move, the punishments have so far been seen as well short of the most stringent.
While the latest measures from Washington target Russia’s two largest banks and see controls on high-tech items aimed at crippling its defence and aerospace sectors, US President Joe Biden has not cut off oil exports.
The news provided a big boost to Wall Street, where all three main indexes surged from deep in the red to end Thursday on a positive note, yet analysts remain fearful of more uncertainty.
Source: eNCA
In other news – Thando Thabethe’s One-On-One With Tyler Perry
TV and Radio personality Thando Thabethe revealed on her social media platforms that she recently had a one-on-one with the American director, actor, and producer Tyler Perry.
Thando said fans will get to listen to her chat with the American superstar later today on 94.7. Learn more
