Berliner Boersenzeitung - Stocks rally on China action, Ukraine hopes

EUR -
AED 4.293743
AFN 80.911162
ALL 97.783064
AMD 448.784581
ANG 2.092139
AOA 1071.963126
ARS 1468.362845
AUD 1.77632
AWG 2.107102
AZN 1.987413
BAM 1.954862
BBD 2.359767
BDT 142.111786
BGN 1.954862
BHD 0.440589
BIF 3482.228512
BMD 1.168989
BND 1.495482
BOB 8.093115
BRL 6.509626
BSD 1.168739
BTN 100.189908
BWP 15.60351
BYN 3.824664
BYR 22912.182033
BZD 2.347573
CAD 1.599603
CDF 3373.701668
CHF 0.930825
CLF 0.028933
CLP 1110.277061
CNY 8.379955
CNH 8.383708
COP 4691.643348
CRC 589.417077
CUC 1.168989
CUP 30.978205
CVE 110.212098
CZK 24.663208
DJF 208.120101
DKK 7.461891
DOP 70.376219
DZD 151.699184
EGP 57.882959
ERN 17.534833
ETB 161.015012
FJD 2.621165
FKP 0.865556
GBP 0.865806
GEL 3.167949
GGP 0.865556
GHS 12.154166
GIP 0.865556
GMD 83.583861
GNF 10140.132683
GTQ 8.977691
GYD 244.512633
HKD 9.176393
HNL 30.572325
HRK 7.54056
HTG 153.396369
HUF 400.094038
IDR 18971.520521
ILS 3.893322
IMP 0.865556
INR 100.329058
IQD 1530.965129
IRR 49229.041804
ISK 142.394872
JEP 0.865556
JMD 186.890292
JOD 0.828888
JPY 171.996813
KES 150.998626
KGS 102.228303
KHR 4685.750815
KMF 492.319316
KPW 1052.089992
KRW 1608.983375
KWD 0.357465
KYD 0.973933
KZT 610.636891
LAK 25186.910152
LBP 104715.635948
LKR 351.461297
LRD 234.327522
LSL 20.840197
LTL 3.45172
LVL 0.70711
LYD 6.313969
MAD 10.526647
MDL 19.786502
MGA 5177.514766
MKD 61.505477
MMK 2454.33277
MNT 4192.162352
MOP 9.449864
MRU 46.490684
MUR 53.141857
MVR 17.997683
MWK 2026.527256
MXN 21.809595
MYR 4.969362
MZN 74.768303
NAD 20.840197
NGN 1788.891847
NIO 43.009355
NOK 11.84101
NPR 160.304053
NZD 1.944502
OMR 0.449474
PAB 1.168739
PEN 4.144211
PGK 4.831681
PHP 66.026824
PKR 332.349471
PLN 4.264877
PYG 9057.65228
QAR 4.260655
RON 5.077849
RSD 117.093794
RUB 91.26865
RWF 1688.789372
SAR 4.384296
SBD 9.733571
SCR 16.480089
SDG 701.971099
SEK 11.17973
SGD 1.496323
SHP 0.918642
SLE 26.297188
SLL 24513.116917
SOS 667.879414
SRD 43.495148
STD 24195.709621
SVC 10.226091
SYP 15199.024107
SZL 20.846993
THB 37.852156
TJS 11.295478
TMT 4.103151
TND 3.419359
TOP 2.737893
TRY 46.99955
TTD 7.940189
TWD 34.167149
TZS 3029.846208
UAH 48.828962
UGX 4188.989263
USD 1.168989
UYU 47.257316
UZS 14765.912285
VES 133.578629
VND 30527.560087
VUV 139.867093
WST 3.045814
XAF 655.642288
XAG 0.030335
XAU 0.000347
XCD 3.159251
XDR 0.815409
XOF 655.642288
XPF 119.331742
YER 282.719428
ZAR 20.971543
ZMK 10522.306496
ZMW 27.055013
ZWL 376.413942
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Stocks rally on China action, Ukraine hopes
Stocks rally on China action, Ukraine hopes

Stocks rally on China action, Ukraine hopes

Global stocks rallied on Wednesday, buoyed by Ukraine peace hopes and China's pledge to help stabilise markets after recent routs.

Text size:

Optimism over talks between Russia and Ukraine also drove the benchmark international oil contract, Brent, back under $100, analysts said.

Investors will later turn their attention to a keenly-awaited US Federal Reserve decision on raising interest rates later Wednesday to fight decades-high inflation.

Frankfurt, Paris and Milan stock markets closed more than three percent higher while London's FTSE 100 finished up 1.6 percent.

Wall Street was sharply higher at around midday.

Hong Kong's main equities index closed up more than nine percent after Chinese state media said authorities would maintain capital market stability and adopt measures to handle risks for troubled property developers.

The news lit a fire under the Hang Seng Index, where mainland Chinese tech firms had been reeling from a sell-off this year fuelled by a government crackdown on the sector and fears about possible US sanctions if China were to help Russia in its war with Ukraine.

The decision to lock down the southern Chinese tech hub of Shenzhen to fight Covid-19 had compounded the crisis for the sector.

The Hang Seng Tech Index soared by a record of more than 20 percent.

Analysts said market sentiment was lifted by Ukraine President Volodymyr Zelensky saying Tuesday that NATO membership was not on the table, in an apparent concession to Moscow.

"Today has delivered a double-whammy of gifts for embattled markets," said Chris Beauchamps, chief market analyst at IG.

"First the Chinese deputy PM hints at economic stimulus, providing a huge bounce for stocks there and giving the rest of the world hope that a sizeable economic package is on the way," he said.

"As if that wasn't enough, the Russians and Ukrainians appear to be making some progress towards a deal, including a ceasefire and Ukraine halting any lingering efforts to join NATO."

On Wednesday, however, Kyiv rejected Russian demands to impose neutrality on Ukraine, and Zelensky demanded the United States and its NATO allies impose a no-fly zone in an address to the US Congress.

"The positive disposition is being attributed to reports that Russia and Ukraine may be making progress toward some compromises," said Briefing.com analyst Patrick O'Hare.

"Everyone has heard this before only to be subsequently disappointed with headlines later in the day that dispel such notions," he said.

- Oil back under $100 -

Elsewhere, Brent seesawed above and under $100 in volatile trading.

"Oil prices are continuing to fall in the middle of the week as progress in talks between Ukraine and Russia see crude premiums being eroded," said OANDA market analyst Craig Erlam.

Fresh Covid lockdowns in China have also triggered demand concerns for the world's biggest importer of the commodity.

Hopes for an Iran nuclear deal -- which could see the country restart oil exports -- have additionally weighed on prices.

The International Energy Agency cut its 2022 oil demand outlook and warned that sanctions on Russia could spark a global supply "shock".

At the London Metal Exchange, meanwhile, nickel resumed trading after being suspended for more than a week but its return was disrupted by an IT glitch.

Nickel, used in stainless steel and electric vehicle batteries, had spiked on March 8 to a then-record high of $101,365 per tonne on a bad bet from a Chinese billionaire after Russia's invasion of Ukraine.

- Key figures around 1700 GMT -

New York - DOW: UP 0.7 percent at 33,772.30 points

London - FTSE 100: UP 1.6 percent at 7,291.68 (close)

Frankfurt - DAX: UP 3.8 percent at 14,440.74 (close)

Paris - CAC 40: UP 3.7 percent at 6,588.64 (close)

EURO STOXX 50: UP 4.1 percent at 3,889.69

Hong Kong - Hang Seng Index: UP 9.1 percent at 20,087.50 (close)

Tokyo - Nikkei 225: UP 1.6 percent at 25,762.01 (close)

Shanghai - Composite: UP 3.5 percent at 3,170.71

Brent North Sea crude: DOWN 0.7 percent at $99.18 per barrel

West Texas Intermediate: UP 0.1 percent at $96.54 per barrel

Euro/dollar: UP at $1.0995 from $1.0951 late Tuesday

Pound/dollar: UP at $1.3102 from $1.3036

Euro/pound: UP at 83.93 pence from 83.92 pence

Dollar/yen: UP at 118.57 yen from 118.33 yen

(H.Schneide--BBZ)