Russia’s next move in Ukraine in focus

LONDON — European stocks are expected to open mixed on Tuesday, with investors’ attention focused on the latest developments in the war between Russia and Ukraine.

The UK’s FTSE index is seen opening 15 points higher at 7,613, Germany’s DAX 30 points higher at 14,086, France’s CAC 40 down 8 points at 6,554 and Italy’s FTSE MIB 121 points higher at 24,189, according to data from IG.

Global investors are watching Ukraine closely after the country’s military said on Monday that a long-expected offensive push into the Donbas region in eastern Ukraine has started, with intensified assaults Monday in the Slobozhansky and Donetsk operational districts in the north and east of the country.

With the conflict showing no signs of ending soon, the World Bank has lowered its global growth forecast for 2022 by nearly a full percentage point, from 4.1% to 3.2%, citing the pressure that Russia’s invasion of Ukraine has placed on the global economy.

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Overnight, shares in Asia-Pacific were mixed in Tuesday morning trade, as investors watched for market reaction to China’s central bank announcing financial support for Covid-hit sectors.

Meanwhile, US stock futures rose on Monday evening as traders navigate one of the busiest weeks of corporate earnings season. Before the bell on Tuesday, Johnson & Johnson and insurance giant Travelers will report their latest results. Attention will be focused on the latest Netflix earnings set to be reported after the bell.

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