Global Stocks Rose As Investors Monitor Putin’s Next Steps

World stocks rose on Wednesday, with investors waiting to see Russian President Vladimir Putin’s next move after the country’s leader sent troops into separatist regions of Ukraine. 

The MSCI World Index, a leading gauge of equity gained 0.2%, helped by broad gains across European major bourses.

The FTSE 100 added 0.3% and the pan-European STOXX Europe 600 index advanced 0.6%, supported by strong company earnings, including from automaker Stellantis. 

Stocks in Asia-Pacific

Stocks in Asia-Pacific strengthened their positions on Wednesday. 

Mainland Chinese stocks saw gains on the day with the Shanghai composite gaining 0.93% to 3,489.15. The Shenzhen component added 1.902% to about 13,549.99.

In Hong Kong, the Hang Seng index gained about 0.6% as of its final hour of trading. 

South Korea’s Kospi advanced 0.47% to end its trading day at 2,719.53. 

The S&P/ASX 200 in Australia gained 0.62% to 7,207.70. 

U.S. stocks declined on Tuesday. The S&P 500 dropped 1.01% to 4,304.76. Meanwhile, the Dow Jones Industrial Average fell 482.57 points or 1.42% to 33,596.51. The Nasdaq Composite declined 1.23% to 13,381.52.

On Tuesday, U.S. President Joe Biden stated that Russia has begun an invasion of Ukraine and announced sanctions against Russian banks and the country’s sovereign debt, among others. 

The U.K. also decided to impose sanctions. It also started targeted economic sanctions against five Russian banks and three wealthy individuals. 

Shares of Home Depot dropped nearly 9%. Its shares fell even though the company reported a quarterly profit of $3.21 a share. 

In the meantime, Macy’s fell 5% in spite of beating on the top and bottom lines of its quarterly results. The company also authorized a new $2 billion share buyback program and announced a 5% dividend increase.