LONDON—European stocks rose on Friday following Wall Street’s dramatic late rally, as investors welcomed coordinated Western sanctions against Russia that targeted its banks but left its energy sector largely untouched. Oil prices initially fell back sharply but were back above $100 a barrel in early European trading. The jump in stocks was modest, however, and markets remained down significantly from levels at the start of the week after investors were left stunned by Russian President Vladimir Putin’s decision to invade Ukraine. On Friday, missiles pounded the Ukrainian capital as Russian forces pressed their advance. By 0930 GMT, the Euro STOXX was 0.72 percent higher while the FTSE 100 gained 1.1 percent. Germany’s DAX nudged 0.05 percent higher. Asian shares closed up higher. But on Wall Street—where stocks staged a massive rebound after President Joe Biden unveiled sanctions on Thursday—futures pointed to a lower open in the United States. “Markets seem …
Stocks Stage Tentative Rebound After Coordinated Sanctions on Russia
February 25, 2022
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