May 26, 2022

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It seems that the European market is a Russian armored convoy heading to Kyiv

It seems that the European market is a Russian armored convoy heading to Kyiv

LONDON – European shares are expected to open lower on Tuesday amid reports that a large Russian armored convoy is heading towards the Ukrainian capital, Kyiv.

United kingdom FTSE index The index is expected to open 46 points lower at 7414, German Dax 129 points lower at 14,351, France CAC 40 Down 63 points at 6600 and Italy FTSE MIB 174 points lower at 25,175, according to data from IG.

Russia appears to have ramped up its invasion of Ukraine overnight as reports and satellite images surfaced of a long convoy, some 40 miles (65 km) long, of Russian military vehicles heading towards the Ukrainian capital, Kyiv.

Satellite imagery taken by Maxar Technologies on Monday shows a convoy of armored trucks sometimes driving two or three vehicles down the road. But official sources did not confirm the presence of the convoy.

Other images from Maksar indicate additional military activity in southern Belarus, which borders Ukraine and is Russia’s ally, with ground forces and ground attack helicopter units deployed in the images. Once again, official sources have not confirmed whether these units are preparing to join Russian forces in an attack on Ukraine. There were unconfirmed reports on Monday that Belarus may be preparing to assist Russia in the invasion.

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Asia Pacific Markets Mostly it went up on Tuesday when US stock futures also rose in overnight trading Ahead of the first trading session of March as investors continue to monitor the fighting between Russia and Ukraine.

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Earnings in Europe come from Bayer, Covestro, HelloFresh and Zalando companies. Data releases include German retail sales for January and final Eurozone manufacturing activity data for February.

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