European stocks pick up, dollar slips while investors focus on Russia-Ukraine

Share:

European stocks opened slightly higher on Tuesday, the dollar eased and gold was just below an 8-month high as investors remained focused on the risk of Russia invading Ukraine.

The United States said on Sunday that Russia could invade Ukraine any time, a prospect that has prompted investors to sell riskier assets so far this week. 

Reuters states that investor risk appetite improved slightly on Monday, “when Russian Foreign Minister Sergei Lavrov suggested that Moscow should continue along the diplomatic path to resolve the tensions.” 

Russia’s defence ministry was quoted as saying that some troops adjacent to Ukraine are returning to their bases.

After stocks fell in the U.S. and Asian sessions, there were signs of sentiment improving in early European trading.

The MSCI world equity index, which tracks shares in 50 countries, was up 0.2% on the day at 0839 GMT, its first gain after three consecutive days of drops of more than 0.9%.

Comments from the Russian Foreign Minister that there was still mileage in negotiation and similar diplomatic efforts from Western nations looks to be helping to dampen down the anxiety that has been gripping markets in recent days.

“Nevertheless, until there is some more concrete resolution to this issue, it is unlikely that we will see a strong rally in risk sentiment,” wrote ING strategists Iris Pang and Robert Carnell in a client note.

German Chancellor Olaf Scholz is due to meet Russian President Vladimir Putin – part of a frantic push by Western diplomats to try and stop a potential attack. 

Gold – a safe-haven asset – rose to an eight-month high during the Asian session but pulled back as European markets opened. 

Oil prices also fell from the seven-year highs hit on Monday.

Investors also focused on the trajectories for major central banks to tighten monetary policy.

U.S. Federal Reserve officials are split over how aggressively to raise rates.

Markets are pricing a 60.5% chance of a 50 basis points hike and a 39.5% chance of a 0.25% hike at the U.S. central bank’s March meeting.

The U.S. dollar index was down 0.2% on the day at 96.046, pulling back from the two-week high it hit on Monday.

The euro was up 0.3% at $1.1341 and riskier currencies such as the Australian dollar and British pound also strengthened.

UK employment fell in the October-to-December period while earnings fell by 0.8% in real terms, official data showed.

The U.S. 10-year Treasury yield broke back above 2%, while European government bond yields were 2-3 bps higher on the day.

Source: Reuters

View our blog for market news and company updates.

Register your interest in one of our events

By clicking “Submit” I acknowledge I have read and agree to the Privacy Policy. Evenco will not share or sell your contact details with any third party sources.

Refer a colleague

Register to receive your Contributor Brochure

By clicking “Submit” I acknowledge I have read and agree to the Privacy Policy. Evenco will not share or sell your contact details with any third party sources.

Register to receive your Membership Brochure

By clicking “Submit” I acknowledge I have read and agree to the Privacy Policy. Evenco will not share or sell your contact details with any third party sources.

Register to receive your
Event Media Pack

By clicking “Submit” I acknowledge I have read and agree to the Privacy Policy. Evenco will not share or sell your contact details with any third party sources.

Privacy Policy

The data controller is: Evenco International Limited, 1 Ropemaker Street, London, Greater London, England EC2Y 9HT.

Evenco International is an executive conference organiser for the asset management community.

Your privacy is important to us. Accordingly we are committed to handling the personal information of all those we engage with responsibly and in a way that meets the legal requirements of the countries in which we operate.

This privacy policy explains the basis on which any personal data we collect from you will be processed by us in relation to the following:

Conference registration.
Email Marketing.
Face-to-face meetings with our Research team.

Except for the above, we do not process or analyse your information in any other way, including disclosing your information with third parties, unless required to do so by law.

Conference registration

If you sign up to attend one of our conferences, we will ask you to provide your professional details – in order to determine your suitability to attend our conference and share with you all logistical information. We will use this information internally to communicate with you. We request the following: name, job title, business address, email address and business telephone number. By attending our conferences we may pass the information we collect at registration to our conference sponsors. It gives our sponsors the opportunity to know who will be attending the conference. They can contact you after the conference for commercial reasons. It is, therefore, up to you whether you remain in contact with them. Evenco International will never share any of your personal data with potential sponsors without your explicit consent. After the conference, we will ask you to complete surveys regarding your experience with us. Information for us and the sponsors of the conference to which the feedback applies. We will check, of course, that you are happy to share your feedback and personal data with the sponsors. We will not share your feedback with other third parties without your explicit consent. There will be a photographer and/or videographer at our conferences. This may be used for future marketing material, our website and social media channels.

Email Marketing

When you register to attend one of our conferences, we will ask you if you wish to receive direct marketing from us regarding future conferences. You can choose to stop receiving them at any time by emailing info@evencointernational.es

Face to face meetings

Evenco International meets with its audiences prior to its events – meaning we will sometimes ask to meet you and ask you questions. We do not record these meetings. Any opinions that you express may be shared with specific sponsors – anonymously – on the condition that you give us your permission to do this.

Security

We ensure information once received is stored securely and only accessible with the correct authorisation. Electronic data and databases are stored on secure computer systems and we control who has access to information. However, a loss of personal data is known as a data breach. The General Data Protection Regulation imposes requirements on businesses to report breaches within 72 hours. We undertake to inform you if your personal data is compromised and there is a risk to your rights and freedoms as a result.

Contact Us

If you have any questions about this Privacy Policy or relating to our use of your information, write to our Data Protection Officer at Evenco International, 1 Ropemaker Street, London, Greater London, England EC2Y 9HT, or emailing info@evencointernational.es

Please also contact us if you wish to exercise your ‘Right to Access’ or ‘Right to be Forgotten’ under the General Data Protection Regulation.

Terms and Conditions

Evenco Analytics offers a free trial period for three months after subscribing to the service. You will not be charged for this product during your trial period. Before the trial expires, we will contact you to see if you wish to continue using the service and subscribe to a yearly subscription, where you can cancel if desired. You can also unsubscribe from Evenco Analytics for free at any time leading up to the first quarterly payment by contacting us at info@evencointernational.com. Standard rate for the product is £5k per annum, charged quarterly at £1250. Early bird and referral discounts are also available for subscribing to a full Evenco Analytics subscription – please contact us for more information. As our subscription is set up via invoicing, please note that there may be a short delay before you receive access to the platform, as we will need to approve your request.

Request a demo