European markets positive ahead of Ukraine-Russia talks

LONDON — European stocks moved higher on Monday ahead of further talks between Russian and Ukrainian negotiators.

The pan-European Stoxx 600 added 1.2% by late morning, with autos jumping 4.3% to lead gains while basic resources fell 2.2%.

Global attention remains on the war in Ukraine after a weekend of intensified fighting around capital Kyiv, while Russian forces bombarded cities across the country, killing civilians who are unable to escape. Russia also attacked a Ukrainian military training center near the Polish border on Sunday, killing 35 people and wounding 134.

Sanctions continue to hit Russia hard with the financial fallout for Moscow’s invasion expected to come into sharper focus in the coming days ahead of a scheduled sovereign bond payment.

Talks are taking place again on Monday in a bid to establish a solid ceasefire and find room for any compromise between Russia and Ukraine’s demands, although previous discussions have ended in failure.

The U.S. Federal Reserve is also in focus this week as it is expected to raise its target fed funds rate by a quarter percentage point from zero at the end of its two-day meeting Wednesday.

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