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Europe stocks higher as investors weigh sanctions after Russian invasion of Ukraine

By Clive McKeef

European stocks were higher early Friday, after a late rebound on Wall Street on Thursday and gains in Asian shares Friday, as investors weighed the impact of sanctions on Russia announced by the U.S., U.K. and Europe following the invasion of Ukraine.

The Stoxx Europe 600 index was up around 1.0%, while the German DAX 30 was up 0.7%, the French CAC 40 up about 0.9% and the FTSE 100 index up about 0.6%.

Investors noted that U.S. sanctions targeting Russia omitted the energy sector, and natural gas prices reversed a huge rally with the benchmark Dutch Natural Gas Futures contract down as much as 28%.

However, disruptions to energy, metals and grains exports from Russia could still contribute to already high inflation in Europe and the U.S.

Education publisher Pearson was a notable gainer after the company launched a GBP350 million ($470 million) share buyback after posting 2021 results in line with recently upgraded forecasts. Shares of Pearson rose over 7% on the news.

Meanwhile, reinsurance firm Swiss Re fell about 6% after a smaller-than-expected 2021 profit

-Clive McKeef

 

(END) Dow Jones Newswires

02-25-22 0521ET

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