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Global stocks mixed as Ukraine talks appear to progress

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European markets opened lower while Asian stocks advanced Wednesday as investors saw signs of possible progress in talks on ending Russia's war on Ukraine.

London and Frankfurt declined. Shanghai and Hong Kong gained while Tokyo retreated. Oil rose more than US$2 per barrel.

In early trading, London’s FTSE 100 lost 0.1% to 7,529.06 and the DAX in Frankfurt sank 1.3% to 14,631.35. The CAC 40 in Paris shed 1% to 6,720.90. More than 85% of the stocks in the S&P 500 rose. Tech and communication stocks helped power the rally, along with big retail chains, automakers and other companies that rely on consumer spending. Apple rose 1.9% and Netflix added 3.5%. Ford Motor climbed 6.5% and General Motors gained 4.6%.

The Russian deputy defence minister, Alexander Fomin, said Moscow would “cut back military activity” near Kyiv and Chernihiv but gave no details. President Joe Biden said he wasn’t convinced that would lead to a fundamental shift in the war.

 

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Asian stocks rise as Ukraine peace talks appear to progressAsian stock markets followed Wall Street higher on Wednesday as talks on ending Russia's war on Ukraine appeared to make progress. just watched CTV national news with Lisa chris rock is quoted to be a Canadian on your stream
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