European markets opened lower while Asian stocks advanced Wednesday as investors saw signs of possible progress in talks on ending Russia’s war on Ukraine.
London and Frankfurt declined. Shanghai and Hong Kong gained while Tokyo retreated. Oil rose by more than $2 per barrel.
Wall Street futures were lower after U.S. stocks gained Wednesday following Russia’s announcement it would scale back military operations near Ukraine’s capital, Kyiv, and a northern city.
“This was a nice add-on catalyst” to a market rally already underway, said Clifford Bennett of ACY Securities in a report.
In early trading, London’s FTSE 100 lost 0.1% to 7,529.06 and the DAX in Frankfurt sank 1.3% to 14,631.35. The CAC 40 in Paris shed 1% to 6,720.90.
On Wall Street, futures for the benchmark S&P 500 index and the Dow Jones Industrial Average were down 0.4%.
On Tuesday, the benchmark S&P 500 index rose 1.2% and the Dow advanced 1%. The Nasdaq composite added 1.8%.
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