Thungen Financial May 27th 2014 - Ukraine Update
European indexes should open lower today after news that despite a positive reaction to the Ukraine vote at the weekend, violence is still happening in the region. Donetsk Airport was the location of the latest fighting in the East of the country whereby it was reported that upto 30 pro-Russian separatist were killed after they tried to take control of the airport. Ukrainian military reacted with full force as they took back the area and continued their fight against what they are calling terrorists. Petro Poroshenko, the new President has openly stated that he wishes to continue communicating with Moscow and there is a suggestion that as soon as early next week all relevant parties could meet. In Donetsk, no polling stations were open and at time of writing the airport was still under attack and belching smoke. Foreign Minister Sergei Lavrov has repeated his desire to mediate a resolution yet he underlined the fact that Russian speaking natives needed to be protected and that further violence against the separatists would not be tolerated. Despite the positive reaction to the voting, European markets will be nervous of what is happening in the region as there has still been no real discussion about Europe's natural gas supplies should the situation take a turn for the worst. Vladimir Putin has already signed agreements with Chinese counterparts for a huge $300bn, 10 year deal to supply them with natural gas, although the pipeline has yet to be completed, it is a sure fire way to back his hand should sanctions or politics start to adversely affect Russia's relationship with the west more than it has already.
Asian Markets as of 27th May 2014:
Nikkei 14,636.52 +0.23% SSE Comp. 2,026.38 -0.25%
Hang Seng 22,926.58 -0.16%
ASX 5,490.80 +0.01%
European Markets as of 27th May 2014
FTSE 6,815.75 -0.07% Dax 9,892.82 +1.28%
CAC40 4,526.93 +0.75%
BEL20 3,145.61 -0.38% Zurich SMI 8,712.35 +0.10%
MICEX 1,387.56 +4.44%
US Markets as of 27th May 2014
S&P500 1,900.53 +0.42% Dow Jones 16,606.27 +0.38%
NASDAQ 4,85.81 +1.31%
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