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European shares jumped 1% on Wednesday, supported by a batch of strong earnings data, and as investors digested news of the first Western sanctions against Russia over its crisis with Ukraine.
The pan-European STOXX 600 index rose 1.1 percent after fears of a full-blown Russian invasion of Ukraine pushed it to a seven-month low on Tuesday.
Eurozone’s Inflation came in at 5.1% in January, on a yearly basis, according to Eurostat’s final reading of the Eurozone CPI report for the month. The reading was in line with the estimates of 5.1% and 5.1% previous. Core figures rose by 2.3%, matching the 2.3% consensus forecasts.
A few moments ago, the Ukrainian government announced the imposition of a state of emergency in all parts of the country, except for Donetsk and Luhansk.. Ukraine asked its citizens to leave Russia “immediately”.
The Verkhovna Rada announced the passage of legislation for self-defense and granting civilians the right to bear arms.
The Russian government’s statement that the sanctions imposed and those contemplated by Western countries and the United States of America may be difficult… but they will not be fatal to the Russian economy.
A few moments ago, the Russian Foreign Ministry said that US sanctions would harm Washington itself, referring to Moscow hinting at the repercussions of stopping energy supplies, which drives oil prices and thus inflation.
