European markets were alerted to a possible nuclear crisis on Friday when a fire broke out at the European’s largest nuclear power station. It is believed that the fire has been contained, and radiation levels are not elevated. As Russian soldiers advanced, tensions in the area caused the fire to flare up. According to Ukraine’s nuclear agency, the Russian military forces have since seized Zaporizhzhia.
Boris Johnson, British Prime Minister, has stated that he will request an emergency U.N Security Council meeting following the near-catastrophic fire. Boris Johnson expressed concern that Putin’s “reckless actions” could directly endanger the safety of Europe.
EUROPEAN EQUITIES SURGE ON FRIDAY
The DAX 40 Index in Germany dropped sharply. This took out key areas that were supporting it. However, the index still managed to post a 10% weekly decline.
RUSSIAN STOCK EXCHANGE WILL REMAIN CLOSED FOR NOW. LSE SUSPENDS RUSSIAN STORKS
After the Central Bank of Russia had confirmed that it will remain closed, the Moscow Stock Exchange (MOEX), was shut down for five days on Friday. After a 50% drop in MOEX’s stock price last Friday, the Central Bank of Russia decided to stop trading.
As part of an overall effort to isolate Russia from the global financial markets, the LSE stopped trading in global depositary receipts. These certificates are used to represent foreign shares. The majority of the Russian-linked stocks suffered losses of around 90% prior to Thursday’s suspension.
NFP FIGURE LIFTS US DOLLAR FOR ECONOMIC INFORMATION RETURNS TO THE FORE
In times of conflict global, scheduled event risk can be pushed to the side as geopolitical events have an impact on market reactions. The US Dollar Basket Index moved up a bit after Friday’s NFP data showed that 678k jobs were added to an already robust US labor market.
