European shares retreat from pre-war levels as investors hit pause

* STOXX 600 declines for first time in four days

* Commodity-linked sectors outperform

* Belgium's Kinepolis slips as finance chief exits

* Cracks widen in EZ economy as war rages on

By Shreyashi Sanyal and Anisha Sircar

March 30 (Reuters) - European shares retreated after three straight sessions of gains on Wednesday, as investors paused to take stock of the outcome of Russia-Ukraine peace talks.

The STOXX 600 closed at levels hit before the conflict on Tuesday after peace talks between Russia and Ukraine yielded the most tangible sign of progress toward negotiating an end to the war.

"(The recent) relief rally, which has been all about the possibility of an agreement between Russia and Ukraine, has fizzled out today," said Danni Hewson, financial analyst at AJ Bell.

Russian forces bombarded the outskirts of Kyiv and a besieged city in northern Ukraine on Wednesday, a day after Moscow promised to scale down operations there.

The pan-European STOXX 600 lost 0.4%, while commodities-exposed sectors were in positive territory. European miners .SXPP and the energy .SXEP sector rose 2.4% and 3.3%, respectively, as prices of oil and metals rebounded.

Given the rally in commodity prices since the onset of the war, energy stocks are up 4.7% this month, while miners have added more than 6%, broadly outperforming the STOXX 600's 1.6% gain in the same period, and the German DAX's .GDAXI 1% rise.

"If the standoff intensifies and Moscow does turn off gas supplies, Germany is going to be in major trouble, and trying to get gas from other places will be very difficult. There will be rationing and issues of supply, which European markets are extremely concerned about today," Hewson said.

Germany triggered an emergency plan to manage gas supply on Wednesday, an unprecedented move that could see the government ration power if there is a disruption in gas supplies from Russia.

Frankfurt's DAX index was the biggest decliner among regional markets, shedding 1.5% to record its worst day in nearly three weeks.

Fuelling investor worries, data and warnings from policymakers made clear that Europe's economy at large is increasingly strained by Russia's war in Ukraine as growth stalls, confidence plummets and inflation soars.

Among individual stocks, BioNTech 22UAy.DE advanced 5.6% after saying it has expanded a clinical trial programme to develop new vaccines to tackle the Omicron COVID-19 variant as it reported a profit boost from its first-generation shot.

Shares of Belgian cinema operator Kinepolis Group KIPO.BR slipped 4.7% after announcing its finance chief Nicolas De Clercq would step down.
Reporting by Shreyashi Sanyal and Anisha Sircar in Bengaluru; Editing by Anil D'Silva and Emelia Sithole-Matarise

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。