A trader works at the Frankfurt stock exchange in Frankfurt, Germany. Picture: REUTERS/TIMM REICHERT
The US and European allies are poised to announce harsh new sanctions against Russia on Tuesday after Putin formally recognised the breakaway regions in eastern Ukraine, escalating a security crisis on the continent. Brent crude futures jumped more than $3, or 2.5%, to $99, its highest since September 2014, on worries that Russian energy exports could be disrupted.
“Europe is in a very, very uncomfortable situation,” said Michael Hewson, chief markets analyst at CMC Markets. “What you’re getting is a classic risk-off play here.”MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.5% earlier. Fears of supply disruptions from Russia sent London-traded aluminium to a more than 13-year high of $3,350 a tonne while benchmark nickel reached the highest since August 2011. Shanghai-traded nickel hit a record high.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global stocks steady amid hope Russia-Ukraine tension will easeUS stock index futures rally and euro rises as a glimmer of hope emerges for a diplomatic solution to the Russia-Ukraine standoff
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »
Source: SABCNews - 🏆 37. / 51 Read more »