Stock market trading dominated by Ukraine again, Moscow open further

Photo: ANP

In the coming week, the attention on the financial markets will mainly be on the developments surrounding the war in Ukraine and the economic consequences of that conflict. All Russian shares can be traded again on the Moscow stock exchange on Monday, after a weeks-long suspension. The important jobs report from the United States will be released on Friday.

US President Joe Biden openly questioned the rule of his Russian counterpart Vladimir Putin in the Kremlin and his acts of war in a speech in Poland on Saturday. “For God’s sake, this man can’t stay in power,” Biden said. The White House later tried to make it clear that Biden was not calling for the overthrow of Putin, but only that the Russian leader should not gain power over his neighbors.

Trading in Moscow was suspended at the end of February. After the reopening on Thursday, investors were only allowed to trade in shares of 33 companies. There are still limitations. For example, investors are prohibited from speculating on a fall in the price of Russian shares, corporate bonds or government loans from municipalities and regional authorities. The trading session is also shorter than usual and only lasts four hours.

The US jobs report plays an important role in the interest rate policy of the Federal Reserve, the umbrella of central banks in the US. If job growth disappoints strongly, the Fed may be more inclined to raise interest rates less quickly. The Fed is in the process of raising interest rates amid high inflation, and Fed Chair Jerome Powell has said it can raise rates even faster to address soaring inflation.

There will also be various macroeconomic figures, for example on European industry and inflation and the German retail trade. In the company results, attention is paid to, among others, the German corona vaccine maker BioNTech and the Swedish clothing chain H&M. In Amsterdam, investor HAL presents annual figures.

The AEX index in Amsterdam closed 0.4 percent higher on Friday at 723.90 points. The MidKap also ended with a plus of 0.4 percent. Stock markets elsewhere in Europe also rose for the most part. The stock markets in New York also ended mostly in the green. Oil prices closed higher on Friday.

Stock market trading dominated by Ukraine again, Moscow open further
Source link Stock market trading dominated by Ukraine again, Moscow open further

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