London, Tuesday, 29 March 2022
After bilateral meetings in Istanbul, Russia's Deputy Defense Minister stated the country has resolved to restrict military activities near Ukraine's Kyiv and Chernihiv.
European stock markets climbed dramatically on Tuesday, with Germany's DAX up more than 2.5 percent to close at 5-week highs.
Inflation fears were also alleviated as oil prices fell below $100 per barrel, continuing a 7% drop the day before and moving further away from 14-year highs achieved earlier this month.
On the statistical front, GfK consumer confidence in Germany has plummeted as a result of the Ukraine conflict and rising inflation.
Autos rose over 6% to lead the increases across all sectors, with the exception of basic resources and oil and gas, which both dipped around 2%.
(Written and edited by: The Decision Maker)