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Free AccessStocks Firmer as Markets Watch Next Round of Peace Talks
- Equities across Europe trade firmer, with US futures following suit as market focus turns to the next round of peace talks held between Russian and Ukrainian representatives this afternoon. Reports of progress across the weekend have raised hopes of a potential ceasefire or more solid use of humanitarian corridors in the near future, helping indices retrace some of last week's lost ground.
- Europe's financials and industrials sectors are leading gains, with energy the sole underperformer as oil prices retrace the recent rally. Germany's DAX is the best performing market on the continent, with significant rallies in the likes of Deutsche Bank (+8%) and Volkswagen (+7%) fuel strength.
- S&P E-Minis trend needle continues to point south. The contract remains above the Jan 24 low of 4094.25 and the key support. A break of this level would confirm a resumption of the downtrend. The 20-day EMA, at 4314.09, represents an important near-term resistance. A clear break of this EMA is required to suggest scope for a stronger short-term recovery towards the 50-day EMA at 4415.63.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.