Russia has pulled back some of its forces near the Ukrainian border, seen as a de-escalation in Moscow's crisis with the West."First signs that Russia may be pulling back from the brink of war is being greeted with a tentative sigh of relief by investors, with some sectors making small strides of recovery," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.In the eurozone, Frankfurt rose 1.8 percent and Paris gained 1.7 percent.
Oil prices, which have shot to seven-year highs on the Ukraine crisis, tumbled more than three percent in value Tuesday. "There is a certain relief in the Ukraine-Russia crisis as the two sides seem willing to continue their diplomatic efforts to avoid a military action," noted Swissquote senior analyst Ipek Ozkardeskaya.
"The geopolitical risks still remain elevated as Russian troops remain at the Ukrainian border, but the risk of military conflict happening this week appears to have eased," said Edward Moya, analyst at Oanda trading group.
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