Berliner Boersenzeitung - Markets rise, oil holds losses on Russia-Ukraine hopes

EUR -
AED 3.819087
AFN 72.682799
ALL 98.089398
AMD 408.896788
ANG 1.86594
AOA 954.524768
ARS 1062.897161
AUD 1.665979
AWG 1.871617
AZN 1.777387
BAM 1.948636
BBD 2.090515
BDT 123.725154
BGN 1.955014
BHD 0.392133
BIF 3061.046786
BMD 1.039787
BND 1.406131
BOB 7.154697
BRL 6.361111
BSD 1.035394
BTN 88.022406
BWP 14.310391
BYN 3.388344
BYR 20379.834362
BZD 2.081249
CAD 1.497783
CDF 2984.18977
CHF 0.932398
CLF 0.03737
CLP 1031.154673
CNY 7.589614
CNH 7.599344
COP 4564.666982
CRC 522.379595
CUC 1.039787
CUP 27.554368
CVE 109.862174
CZK 25.147272
DJF 184.372199
DKK 7.457771
DOP 63.048218
DZD 140.184369
EGP 53.110785
ERN 15.596812
ETB 129.065422
FJD 2.410903
FKP 0.823493
GBP 0.829745
GEL 2.92165
GGP 0.823493
GHS 15.220047
GIP 0.823493
GMD 74.864534
GNF 8945.1154
GTQ 7.977672
GYD 216.613671
HKD 8.078857
HNL 26.282379
HRK 7.458298
HTG 135.452043
HUF 414.927541
IDR 16823.397298
ILS 3.791088
IMP 0.823493
INR 88.514664
IQD 1356.313833
IRR 43762.057998
ISK 145.144124
JEP 0.823493
JMD 161.994466
JOD 0.73731
JPY 163.16967
KES 134.392694
KGS 90.461796
KHR 4160.704156
KMF 484.670921
KPW 935.808139
KRW 1511.1543
KWD 0.320421
KYD 0.862828
KZT 543.751028
LAK 22661.689661
LBP 92716.151012
LKR 303.98248
LRD 187.91916
LSL 19.061624
LTL 3.070222
LVL 0.628957
LYD 5.087298
MAD 10.420392
MDL 19.07089
MGA 4885.041302
MKD 61.568897
MMK 3377.189135
MNT 3533.197679
MOP 8.288728
MRU 41.176624
MUR 48.713702
MVR 15.980014
MWK 1794.887232
MXN 20.936114
MYR 4.668836
MZN 66.446297
NAD 19.061624
NGN 1607.979191
NIO 38.099935
NOK 11.79236
NPR 140.836249
NZD 1.841815
OMR 0.400316
PAB 1.035394
PEN 3.855426
PGK 4.198565
PHP 60.928948
PKR 288.191432
PLN 4.273306
PYG 8073.320348
QAR 3.774424
RON 4.977253
RSD 117.035318
RUB 104.212733
RWF 1443.294071
SAR 3.906118
SBD 8.717115
SCR 14.499106
SDG 625.434214
SEK 11.481583
SGD 1.411215
SHP 0.823493
SLE 23.710672
SLL 21803.826448
SOS 591.724664
SRD 36.528736
STD 21521.501253
SVC 9.059694
SYP 2612.497459
SZL 19.056942
THB 35.631446
TJS 11.32676
TMT 3.649654
TND 3.299171
TOP 2.435285
TRY 36.618975
TTD 7.027166
TWD 34.012527
TZS 2503.289383
UAH 43.422667
UGX 3798.037414
USD 1.039787
UYU 46.180229
UZS 13348.925833
VES 53.527677
VND 26462.591046
VUV 123.445651
WST 2.872712
XAF 653.554362
XAG 0.035083
XAU 0.000397
XCD 2.810077
XDR 0.789797
XOF 653.554362
XPF 119.331742
YER 260.336802
ZAR 19.162504
ZMK 9359.342251
ZMW 28.653662
ZWL 334.81114
  • RYCEF

    -0.0100

    7.27

    -0.14%

  • RBGPF

    0.0000

    60.5

    0%

  • CMSC

    0.0200

    23.86

    +0.08%

  • AZN

    0.5250

    65.875

    +0.8%

  • SCS

    -0.1400

    11.6

    -1.21%

  • GSK

    0.0800

    33.68

    +0.24%

  • NGG

    0.1500

    58.65

    +0.26%

  • RIO

    0.0300

    58.67

    +0.05%

  • CMSD

    -0.0150

    23.545

    -0.06%

  • VOD

    -0.0850

    8.305

    -1.02%

  • BCE

    -0.4700

    22.69

    -2.07%

  • BTI

    -0.2150

    36.025

    -0.6%

  • RELX

    -0.2500

    45.22

    -0.55%

  • BP

    -0.1950

    28.405

    -0.69%

  • BCC

    -0.2850

    122.465

    -0.23%

  • JRI

    0.0150

    12.075

    +0.12%

Markets rise, oil holds losses on Russia-Ukraine hopes
Markets rise, oil holds losses on Russia-Ukraine hopes

Markets rise, oil holds losses on Russia-Ukraine hopes

Asian markets rebounded and oil held steep losses Wednesday on hopes that Russia will not invade Ukraine after Moscow said some of its troops on the countries' border had started pulling back.

Text size:

While not verified, the claims by Russia provided some much-needed relief for investors, who had grown increasingly fearful of a conflict in Eastern Europe after Western powers warned for days that an attack was imminent.

The news also helped traders brush off another forecast-busting surge in the US producer price index that some warned could indicate another painful jump in consumer inflation down the line.

Equities were sent into a spiral after a top US security adviser said Friday that Russian President Vladimir Putin could send troops into Ukraine any day, adding to a range of risk-off issues plaguing the markets including soaring prices, the end of central bank financial support and the coronavirus pandemic.

But the mood lifted Tuesday after Russia's defence ministry said some of the more than 100,000 soldiers amassed around Ukraine in recent weeks had started to return to their barracks.

Then, after three hours of talks, Putin and German Chancellor Olaf Sholz held a news conference in which the Russian leader confirmed a "partial pullback of troops" and said he was willing to look for diplomatic solutions to the crisis, adding that "of course" he did not want war.

"We are ready to work further together. We are ready to go down the negotiations track," Putin said. "We want to resolve this issue now, right now or in the near future, through negotiations, peaceful means."

He said he hoped Western leaders would listen to his concerns about NATO's expansion towards Russia's border and possible Ukraine membership.

Still, while Joe Biden said the United States was "ready with diplomacy", he warned Putin's soldiers "remain very much in a threatening position".

While politicians remained wary, investors jumped on the positive developments.

All three Wall Street indexes jumped after three days of hefty losses, which were also fanned by inflation worries.

And Asia built on the gains in early exchanges.

Tokyo piled on more than two percent, while Hong Kong, Seoul, Wellington, Taipei and Manila jumped more than one percent each. Shanghai, Sydney and Jakarta were also up, though Singapore inched down.

Crude stabilised, having tanked more than three percent on Tuesday as the easing of Russia-Ukraine tensions tempered fears about supplies at a time when demand is soaring, which is adding to inflationary pressures.

Both main contracts remain at more than seven-year highs and observers warned they could break above $100 soon.

"Volatility and uncertainty is just going to be heightened. That can be due to Russia-Ukraine, it could be due to stubborn inflation," Brenda O’Connor Juanas, at UBS, told Bloomberg Television.

"There is a lot more for clients and investors to be uncertain about."

The news out of Europe overshadowed data showing US producer prices rising twice as much as expected in January, adding to fears the Federal Reserve will embark on an aggressive campaign of monetary tightening.

"Factory-gate inflation remained very hot, prompting expectations for inflation to run hotter a little longer, and supporting the case for the Fed to kick off their rate hiking cycle with a half-point rate increase," said OANDA's Edward Moya.

"Americans expect inflation to eventually ease next year, but they are growing nervous the peak could be far worse than they initially expected. President Biden is expected to acknowledge the recent surge with food and gasoline prices, which means executive orders may be coming.

Investors are now awaiting the release of minutes from the Fed's January policy meeting, hoping it will provide clues about the pace and timing of any rate hikes.

- Key figures around 0250 GMT -

Tokyo - Nikkei 225: UP 2.1 percent at 27,428.02 (break)

Hong Kong - Hang Seng Index: UP 1.3 percent at 24,681.79

Shanghai - Composite: UP 0.7 percent at 3,469.46

West Texas Intermediate: FLAT at $92.08 per barrel

Brent North Sea crude: DOWN 0.1 percent at $93.20 per barrel

Euro/dollar: DOWN at $1.1346 from $1.1361 late Tuesday

Pound/dollar: UP at $1.3543 from $1.3541

Euro/pound: DOWN at 83.78 pence from 83.88 pence

Dollar/yen: UP at 115.70 yen from 115.62 yen

New York - Dow: UP 1.2 percent at 34,988.84 (close)

London - FTSE 100: UP 1.0 percent at 7,608.92 (close)

(T.Renner--BBZ)