Global equities were mostly weaker on Thursday after a retreat on Wall Street as leaders prepared to meet in Europe to discuss the Ukraine crisis.
US President Joe Biden was to attend the meetings in Brussels, where sanctions and the Russian oil embargo are expected to be high on the agenda.
Shares rose in Moscow after the Russian stock market resumed under heavy restrictions almost a month after shares fell and the stock market closed after the invasion of Ukraine.
Borders are in place to prevent the kind of sales that have taken place in anticipation of crushing financial and economic sanctions from Western countries. Foreign shareholders will not be able to sell shares, a restriction imposed by Russia to counter Western sanctions against its financial system and the weakening of the ruble.
Trade with 33 of the 50 companies that are part of the country’s MOEX benchmark has been cleared, including the airline Aeroflot, the state-owned gas producer Gazprom and the oil company Rosneft, according to a statement from the central bank regarding the reopening.
The index rose 8.9% in the middle of the morning Moscow time.
Investors waited to see the results of NATO meetings and a summit of European leaders on Thursday.
The German DAX fell 1.3% to 14,283.65. In Paris, the CAC 40 fell 1.2% to 6,581.43. Britain’s FTSE 100 fell 0.2% to 7,460.63. The S&P 500 futures were 0.4% higher, while the Dow Industrials contract was up 0.3%.
In Asia, Tokyo Nikkei 25 rose 0.3% to 28,110.39. In Seoul, Kospi fell 0.5% to 2,729.66, while the Shanghai Composite Index fell 0.6% to 3,250.26.
Hang Seng in Hong Kong fell 1% to 21,929.68. In Australia, the S & P / ASX 200 rose 0.1% to 7,387.10.
On Wednesday, the S&P 500 fell 1.2%, with more than 80% of the benchmark shares closing lower. The Dow fell 1.3 percent. Both indices are now running a weekly loss.
Nasdaq fell 1.3 percent. The shares of small businesses also lost ground. Russell 2000 fell 1.7 percent.
Energy stocks rose as crude oil prices rose more than 5%. Hess rose 4.6% for the largest gain in the S&P 500.
The attack on Ukraine already pushed rising prices for energy and other raw materials even higher.
Pressure points build up as the oil boils back, leading to stagflation again weighing the mood, said Stephen Innes, SPI Asset Managements in a comment.
The US benchmark crude oil lost $ 1.09 to $ 113.84 per barrel in electronic trading on the New York Mercantile Exchange. It rose $ 5.66 to settle at $ 114.93 a barrel on Wednesday. One barrel of Brent, the international standard, rose 41 cents to $ 118.16. per barrel. So far, prices have risen more than 50% in 2022, raising concerns about the impact on a wide range of consumer goods and on consumer consumption in general.
Many of the higher costs incurred by companies have been passed on to consumers, and rising prices for food, clothing and other goods can cause them to cut costs, leading to slower economic growth. Central banks responded by raising interest rates to try to counter the impact of inflation.
Bond yields rose overall as the market bowed for higher yields but fell on Wednesday. The 10-year government bond yield fell to 2.33% from 2.37% on Tuesday.
Investors await the latest round of corporate earnings at the end of the quarter.
In foreign exchange trading, the US dollar rose to $ 121.64 on Wednesday from 121.15 Japanese yen. The euro fell to $ 1.0978 from $ 1.1007.