Some calm has returned to financial markets, after Russia said it would only recognise the Donetsk and Luhansk territories’ independence within the boundaries that the Moscow-backed separatists currently control, and as Ukrainian president Volodymyr Zelenskiy played down the prospect of a large-scale conflict with Russia.
Asian shares recorded some chunky losses, with Japan’s Nikkei losing 1.7% and Hong Kong’s Hang Seng tumbling 2.7%. The main European stock markets in Germany, France, Spain and Italy all slid more than 2% in early trading but later clawed back most of their losses.
The FTSE 100 index in London closed 11 points lower at 7,495.97, a 0.16%% drop. Germany’s Dax lost 0.4% while France’s CAC slipped 0.16%, and Italy’s FTSE MiB and Spain’s Ibex were flat.
The rouble has recovered from a near two-year low after suffering its biggest one-day drop, of 3.3%, since the outbreak oof the coronavirus…
