The pan-European Stoxx 600 stock index strengthened by about 1.5 percent at the beginning of the new week. However, gains of more than two percent on individual European stock exchanges were no exception.
The rapid advance of Ukrainian troops in the Kharkiv region in eastern Ukraine has caused a significant recovery of financial markets in Europe. Most stock exchanges appreciated by more than 1.5 percent, but the exception was the more than 2 percent rise of many European indices. The stock exchanges in Frankfurt, Milan, Vienna or Prague were the most firm.
Energy shock effects to be weakened?
“The developments in the Russia-Ukraine conflict represent some glimmer of hope for markets that there could be a relatively early reprieve in the intensity of the energy shock,” Hani Redha, an analyst at PineBridge Investments, told Reuters.
Influence on Asian stocks
Positive developments in Europe have already been indicated by trading on Asian exchanges, which, due to the time shift, starts a few hours earlier than in Europe. The local indices of important stock exchanges also rose. Mostly in Hong Kong, where the Hang Seng index gained 2.69 percent. Tokyo’s Nikkei added 1.16 and Shanghai firmed 0.82 percent.