Rus­sia vs West ten­sions pres­sure stocks, buoy oil prices

Daily Trust - - REUTERS -

World stocks held just off 10-day lows yes­ter­day, pres­sured by ten­sions be­tween Rus­sia and the West over Ukraine, al­though Euro­pean mar­kets were buoyed by a 15 per­cent jump in takeover tar­get As­traZeneca.

Mar­kets, es­pe­cially in Asia, also took a hit from sig­nals that Chi­nese au­thor­i­ties are not likely to sup­port the econ­omy with more stim­u­lus, but the main im­pe­tus was com­ing from de­vel­op­ments in Ukraine.

Lead­ers of the Group of Seven (G7) ma­jor economies could an­nounce far-reach­ing sanc­tions on Rus­sia as early as Mon­day, ex­tend­ing pre­vi­ous limited mea­sures against some Rus­sian in­di­vid­u­als and com­pa­nies for their role in­Moscow’s an­nex­a­tion of Ukraine’s Crimea re­gion.

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