European markets are set to climb on as investors continue to monitor surging commodities prices and the ongoing war in Ukraine.
U.S. President Joe Biden announced on Tuesday that the U.S. will ban imports of Russian oil, marking a major escalation in the international response to Moscow's invasion of Ukraine.
Corporate earnings continue to roll in across Europe, with Vivendi, Adidas, Continental, Deutsche Post, L&G and Prudential among the big names reporting on Wednesday. LONDON — European markets were sharply higher on Wednesday as investors continued to monitor surging commodity prices and the ongoing war in Ukraine.jumped 3.5% by late morning, with travel and leisure stocks adding 5.4% to lead gains as almost all sectors and major bourses entered positive territory. Oil and gas stocks fell 1.5%.
Stocks across Europe fluctuated on Tuesday before closing slightly lower, as U.S. President Joe Biden announced that the U.S. will ban imports of Russian oil, marking a major escalation in the international response to Moscow's invasion of Ukraine. The move risks exacerbating existing price surges on supply concerns and expectations of stronger growth, and crude oil prices bounced once again following Biden's announcement before moderating on Wednesday.
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