Closing post
Time to wrap up - here are today’s main stories:
Goodnight. GW
European stock market closed higher
European stock markets have ended the day higher, as investors grasp onto hopes that the Ukraine crisis could be de-escalating.
All the main indices recovered at least some of Monday’s falls, after Germany chancellor Olaf Scholz says diplomacy on Ukraine was ‘not exhausted’, and Russia’s defence ministry announced some troops were moving back from the border.
In the City, the FTSE 100 finished 77 points higher at 7,608, up 1%, after falling 1.7% yesterday. AstraZeneca (+5.7%) led the risers after its prostate cancer drug trial news, with airline group IAG up 4.6% as Ukraine tensions eased and the oil price fell back.
The drop in crude prices pulled Shell (-1%) and BP (-0.8%) down, with mining companis also lower.
Germany’s DAX jumped 2%, France’s CAC gained 1.86%, and Italy’s FTSE Mib closed 2.1% higher.
David Madden, analyst at Equiti Capital, says the mood in the markets is upbeat as the Russian government announced it will start to reduce the number of troops its has stationed on the Ukrainian border:
A few hours ago, President Putin announced that he doesn’t want a war in Europe, and that added to optimistic sentiment.
Tensions are still high as Moscow is clearly concerned about the possibility of Ukraine joining NATO, but for now traders only seem to care that a war will not break out. Continental equity markets such as the DAX and the CAC advanced at an impressive rate seeing as they have the most to benefit from a war being avoided.
No te pierdas nuestro #podcast con el cierre de mercados 🇪🇺
— AudioMercados (@AUDIOmercados) February 15, 2022
" Desescalada parcial de tropa rusas activan el #riskon "
Gracias al patrocinio del bróker @IGEspana https://t.co/lsmclmNMSf
🇬🇧 FTSE +1.0%
🇩🇪 DAX + 2%
🇫🇷 CAC + 1.9%
🇪🇸 IBEX +1.7% pic.twitter.com/JFsESfaOWh
