European shares are trading lower despite Asian stocks closing in green
Share markets opened lower in Europe for the first Monday of April, despite Asian stocks closing in green territory overnight, as traders digest the latest mixed developments from Eastern Europe. Market sentiment improved towards Chinese shares, with investors welcoming the move from Beijing to allow the US full access to key information (audits) from Chinese offshore listed companies. However, this bullish enthusiasm was short-lived as investors continue to struggle to assess the situation in Ukraine. Even as Moscow removed some of its troops around Kyiv, the Ukrainian government recently accused Russia of “war crimes” taking place in the north of the country. This sparked the anger of many EU leaders, with French President Macron leading a call for more sanctions on Russia. This situation weighs on today’s appetite for riskier assets like stocks and underly the current uncertain and volatile state of those markets. Investors are likely to rely on macro data to adjust their portfolio exposure, with today’s EU PPI as well as the FOMC’s minutes of the last meeting due later this week.
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