LONDON – European shares fell on Wednesday following the latest round of talks between Russia and Ukraine aimed at finding a solution to the conflict.
pan europe Stokes 600 It fell 0.5 percent in early trading, with banks shedding 1.1 percent to lead losses, while oil and gas stocks rose 1.1 percent.
Investor sentiment was boosted on Tuesday after negotiations between Russian and Ukrainian officials in Turkey, with Russia’s deputy defense minister claiming that Moscow had decided “significantly” to reduce its military activity near the Ukrainian capital.
Alexander Fomin, speaking after the talks in Istanbul, said Russia would slow down its military operations near Kyiv and Chernihiv in order to make progress in the peace talks. Russia previously claimed it would scale back military operations in other parts of Ukraine but has since continued to advance.
Growing hope for a ceasefire appeared to boost investor sentiment on Tuesday, with the Dow Jones Industrial Average futures up 200 points, or 0.6%. S&P 500 futures were also up 0.6%, while Nasdaq 100 futures were up 0.7%. Meanwhile, the price of US benchmark West Texas Intermediate crude, which rose in the wake of the Russian invasion of Ukraine, It fell more than 4% to $100 a barrel.
However, doubts arose about the undertaking, and while the Russian military was doing so It began moving some of its forces in Ukraine away from the areas around Kiev to locations elsewhere In Ukraine, Pentagon press secretary John Kirby has warned that troop movements do not amount to a retreat.
Stocks in Asia Pacific It was mixed on Wednesday as investors awaited developments surrounding the war in Ukraine. United StateTraders are watching a slew of key economic reports, while also keeping an eye on the Fed’s planned rate hikes.
Tuesday’s survey of jobs and employment turnover showed 11.3 million jobs, up from 11.1 million expected. The ADP will also release its own jobs data ahead of its closely watched monthly jobs report, on Friday.
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CNBC’s Amanda Macias contributed to this market report.