Market Drivers – European Session 29-3-2022

As pointed out by Mohamed Hashad, Director of Research and Development Department at Noor Capital, in this morning’s report, The safe-haven yellow metal fell strongly after positive news regarding the progress of negotiations between Russia and Ukraine. As a result, the yellow metal gave up the levels of 1900 dollars an ounce.

The Russian Defense Ministry said on Tuesday that it would scale down military activity in Kyiv and Chernihiv in order to create conditions for dialogue, reported Reuters, correcting an earlier headline where they had claimed that Russia said it would “stop” military activity in the area. The Russian Defense Ministry called on Ukraine to abide by the Geneva Convention for Prisoners of War. 

Major US stock indexes rose at the open on Tuesday, boosted by signs of progress in talks between Russia and Ukraine to end their weeks-long war.

The Dow Jones Industrial Average started the trading session on Wall Street, up 0.45 percent to 35,114.35 points, while the Standard & Poor’s 500 index rose 0.60 percent to 4,602.86 points.

The Nasdaq Composite Index jumped 1.01 percent to 14,500.39 points.