The FTSE climbed on Tuesday on claims that Russia is scaling back operations around Kyiv and an end to a recent rally in oil prices.
The FTSE climbed on Tuesday on claims that Russia is scaling back operations around Kyiv and an end to a recent rally in oil prices. M oscow said it would make the move after “meaningful” peace talks in Istanbul, although traders continued to take the comments with a pinch of salt. London’s top-flight index ended the day up 64.11 points, or 0.86%, at 7,537.25 points. The other major European markets were also positive, with French banks driving a sharp improvement in the Cac 40. The Cac was up 3.08% and the German Dax had increased 0.22% by the end of the session. Chris Beauchamp, chief market analyst at IG, said: “European markets rallied hard on hopes of some kind of deal being hammered out that allows both sides to save face, and oil prices dropped on hopes that supply will recover, although it is unlikely that sanctions will end soon given western wariness about rushing back to normal relations with Putin.
