European markets watch as Ukraine-Russia conflict continues
LONDON — European stocks were uncertain on Wednesday as the geopolitical crisis between Russia and Ukraine continues.
European stocks closed firmly lower on Tuesday as a significant Russian military convoy headed toward Ukraine’s capital Kyiv. A Russian airstrike hit Kyiv’s main television tower on Monday afternoon, killing five people. Meanwhile, Russian forces continue to attack Kharkiv, Ukraine’s second-largest city.
Earnings in Europe came from Atos and Signify with data releases including the euro zone’s inflation rate in February and Germany’s latest unemployment figures for February.
In terms of individual share price movement, Neste shares jumped more than 17% to lead the Stoxx 600 after the Finnish engineering company announced a joint venture with U.S. oil company Marathon to produce renewable fuels globally.
At the bottom of the European blue chip index, Swedish telecoms giant Ericsson fell more than 13% as it juggles an unpopular acquisition and the fallout from a 2019 investigation which found compliance breaches in the company’s operations in Iraq.
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— CNBC’s Eustance Huang contributed to this market report.