Mixed departure for the main European stock exchanges that remain tuned to the developments of the negotiations between Russia and Ukraine. A weak start for both the Dax in Frankfurt and the Cac40 in Paris which exchange respectively at 14,397 points (-0.11%) and 6,617.8 points (-0.06%), while the London Ftse 100 moves against the current which advances by 0.27% just above 7,400 points.
Almost a month after the outbreak of the conflict, concerns about the Russia-Ukraine crisis and the new rise in oil prices seem to prevail over the hope of a diplomatic solution to the conflict. And this despite the words of the Turkish Foreign Minister who in an interview published on Sunday declared that Moscow and Kiev would be close to an agreement on some essential points, the operators remain cautious while waiting for concrete progress. The diplomatic meetings will continue today and in the next few days. US President Joe Biden will travel to Poland on Friday to discuss the international response in support of Ukraine, following a meeting in Brussels with NATO allies, his G7 counterparts and European leaders.
While today a meeting is scheduled between the US president and French, German, Italian and British leaders to discuss their coordinated response to Moscow’s actions. Meanwhile, oil prices have risen on fears of a European embargo on Russian production. The IEA, the International Energy Agency, warned on Friday that, starting in April, Russia’s supply of oil and refined products could drop by 3 million barrels a day.
Among the other appointments of the day to mark on the agenda the speech by Christine Lagarde, president of the European Central Bank (ECB), scheduled for this morning and that of the Fed’s number one, Jerome Powell, starting at 17 Italian time.