Stocks rise as Russia-Ukraine talks show progress - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 68%

United States News News

United States United States Latest News,United States United States Headlines

The benchmark Philippine Stock Exchange index (PSEi) went up by 51.93 points or 0.73% to close at 7,167.02 on Wednesday, while the broader all shares gained by 24.22 points or 0.64% to 3,794.75. READ:

The benchmark Philippine Stock Exchange index went up by 51.93 points or 0.73% to close at 7,167.02 on Wednesday, while the broader all shares gained by 24.22 points or 0.64% to 3,794.75.

“The market gained, following the positive cues from the US markets overnight and the drop in global oil prices lifted the sentiment. Investors digest the developments in the Russia-Ukraine war after their face-to-face talks. In addition… the lockdown in China pulled global oil prices down. This, somehow, lifts the market sentiment at home,” Philstocks Financial Research Associate Claire T. Alviar said in a Viber message.

Russia said on Tuesday it plans to scale down military operations around the Ukrainian capital, Kyiv, while Ukraine might adopt a neutral status that may help de-escalate the five-week war, Reuters reported. Meanwhile, oil prices rose more than 2% on Wednesday. Brent crude futures were up $2.6 or 2.4% at $112.81, while US West Texas Intermediate crude futures rose $2.7 or 2.5% to $106.84 a barrel.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in US

United States United States Latest News, United States United States Headlines