Global stocks mixed after West vows more Russia sanctions_eye freckle removal surgery uk

JOE McDONALD·3 min readIn this article:
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  • Vladimir PutinVladimir PutinPresident of Russia

BEIJING (AP) — Global stock markets were mixed Friday after Western governments promised new sanctions on Russia and President Vladimir Putin tried to prop up Moscow's sinking ruble by threatening to require Europe to use it to pay for gas exports.

London and Shanghai declined while Tokyo gained and Frankfurt was little-changed. Oil fell but stayed above $110 per barrel.

Wall Street futures declined a day after gaining as the number of Americans applying for unemployment fell to a 52-year low.

Western leaders meeting Thursday in Brussels promised more sanctions. President Joe Biden said they were meant to “increase the pain” on Putin, but the leaders released no details of possible new penalties.

Putin threatened to require European customers that rely on Russia gas supplies to pay in rubles. That would increase demand for the Russian currency, pushing up an exchange rate that has slumped under sanctions.

European leaders on Thursday rejected that possibility, potentially setting up a clash over energy supplies.

Putin's demand is a “cunning gambit" to frustrate sanctions while “elevating uncertainty for the West,” said Tan Boon Heng of Mizuho Bank in a report.

In early trading, the FTSE 100 in London fell 0.2% to 7,454.92 and the DAX in Frankfurt was off less than 0.1% at 14,267.95. The CAC in Paris sank 0.1% to 6,550.00.

On Wall Street, the future for the benchmark S&P 500 index gained 0.2%. That for the Dow Jones Industrial Average was up 0.1%.

On Thursday, the S&P 500 gained 1.4% and the Dow added 1%. The Nasdaq composite rose 1.9%.

In Asia, the Shanghai Composite Index lost 1.2% to 3,212.24 while the Nikkei 225 in Tokyo gained 0.1% to 28,149.84. The Hang Seng in Hong Kong fell 2.5% to 21,404.88.

The Kospi in Seoul was little-changed at 2,729.98 while Sydney's S&P-ASX 200 gained 0.3% to 7,406.20.

India's Sensex lost 0.8% to 57,152.53. New Zealand, Singapore and Bangkok advanced while Jakarta declined.

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