Stocks extended a selloff Wednesday as the war in Ukraine and sanctions on Russia triggered a record-setting surge in commodities, darkening the economic outlook and bolstering demand for sovereign bonds. An Asian equity index shed over 1%, European futures retreated and U.S. contracts wavered as caution prevailed after a Wall Street slide Tuesday spurred by the prospect of slowing growth alongside high inflation. Russia’s invasion of Ukraine imperils flows of crops, energy and metals. The two account for more than a quarter of the global grains trade, and Russia is additionally rich in oil and gas. Wheat hit a 14-year high, Brent oil topped $110 a barrel and a commodity indexjumped the most since 2009 to a record. Economic risks are tempering expectations for how steeply the Federal Reserve will raise interest rates. Markets have priced out any risk of a half-point March liftoff. Traders in the U.K. and Europe have also dialed back rate-hike bets. The challenge for central banks is to contain inflation without choking growth.
Russia said it would press forward with its invasion of Ukraine as the conflict enters a more brutal stage. At the same time, moves to isolate and pressure Russia’s financial system and economy gathered steam.
Russia said it would press forward with its invasion of Ukraine as the conflict enters a more brutal stage. At the same time, moves to isolate and pressure Russia’s financial system and economy gathered steam.
President Joe Biden, in his first State of the Union address, said Russian counterpart Vladimir Putin was a “dictator” and warned the war will leave his country weaker. Biden also pledged to fight inflation at home.
Nikkei -1.68% Hang seng -1.84% CSI -0.89% Shanghai -0.13% Shenzen -0.56%
S&P -0.25% Nasdaq -0.34% EuroStoxx -0.85% FTSE -0.24% Dax -0.85% SMI -0.88%
Macro :
- Italy Feb. New Car Sales Fall 22.56% Y/y
- Italy Feb. New Car Sales Fall 22.56% Y/y
- Biggest Russia ETF Gauge Is Frozen, Index Provider Says
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus CEO Gets Pay Bump for Steering Company Through Covid
- AOX GY : Alstria Office FY Revenue Beats Estimates
- ATO FP : Atos Names Stephane Lhopiteau as CFO, Taking Over From Stelter
- BAMI IM : Banco BPM to Sell Factorit Stake to Banca Popolare di Sondrio
- BAMI IM : Banco BPM to Sell Factorit Stake to Banca Popolare di Sondrio
- BATS LN : Tobacco Companies Sue Danish Health Ministry Over New Laws
- BMW GY : VW, BMW to Idle Plants on Parts Shortages From Ukraine (1)
- BMPS IM : Italy May Invite AXA, Anima to Invest in Paschi Cap Increase: MF
- BT/ LN : BT Pension Fund Reduced Russian Holdings by More Than $200M
- BOSN SW : Bossard FY Ebit CHF123.3M Vs. CHF86.4M Y/y
- CNA LN : U.K. Starts Reviewing Exposure to Russian Gas, Energy Groups: FT
- COFB BB : Cofinimmo Buys Dutch Care Home for About EU8m at About 5% Yield
- ACA FP : Credit Agricole Pauses New Russian Deals as War Rages in Ukraine
- DIE BB : Belgian February Car Registrations Drop 12%; D’Ieteren Has 21%
- ELIOR FP : Elior Names Bernard Gault Interim CEO as Guillemot Resigns
- ENEL IM : Italy’s Enel Outlines Plan to Help With Surge in Power Bills
- ENGI FP : Engie Says It’s Analyzing Consequences Nord Stream 2 Sanctions
- ENI IM : Eni to Sell Stake in Blue Stream Pipeline, Ending Gazprom JV
- EUCAR FP : Green Mobility Extends Deadline For Europcar Deal to June 30
- GLEN LN : Glencore Is Reviewing Its Stakes in Two Russian Companies (2)
- ITP FP : Interparfums FY Operating Margin 17.6% Vs. 12.8% Y/y
- TKWY NA : Just Eat Takeaway FY Adjusted Ebitda Swings To EU350M Loss (1)
- KORI FP : Korian: Cash Investigation Had Misleading, Inaccurate Claims
- MFEB IM : MFE FY Revenue Meets Estimates
- NDA SS : *BIGGEST NORDIC BANK NORDEA TARGETED BY DDOS ATTACK
- NOVN SX : Novartis: New Data Strengthens Kesimpta’s Benefit-Risk Profile
- OMV AV : OMV to Not Pursue Talks for Acquisition of Interest in Achimov
- RBREW DC : Royal Unibrew 2022 Ebit Forecast Misses Estimates, Royal Unibrew to Buy Back Up to DKK300m of Shares
- SCHA NO : Blommenholm Buys 955,161 Schibsted A Shares at NOK260/Share
- SIX2 GY : Sixt Sees Dividend of EU3.70/Ordinary Share, EU3.72/Pref Share
- S92 GY : SMA Solar Sees 2022 Sales EU900M to EU1.05B
- SAE GY : Shop Apotheke FY Adjusted Ebitda Loss EU5.29M, Est. Loss EU12.6M
- SOON SW : Sonova Sees No Material Last-Month Contribution From Sennheiser
- SSABA SS : Ultra Electronics, SSAB B Among Additions to Stoxx Europe 600
- TIT IM : Telecom Italia Set to Scrap Dividend on Common Stock: Repubblica
- ULE LN : Ultra Electronics, SSAB B Among Additions to Stoxx Europe 600
- RIN FP : Vilmorin 1H Operating Income EU5.7M Vs. Loss EU5.5M Y/y
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