Russian rouble rallies as Putin agrees Ukraine ceasefire September 5, 2014 The rouble rose 0.22 per cent against the dollar and 0.14 per cent against the Euro at pixel time after Ukrainian president Petro Poroshenko announced his government had reached a ceasefire agreement with pro-Russian rebels this afternoon. Earlier in the day, investors had piled into Russian stocks on rumours of an end to fighting, with [...]
Euro vs rouble: Currencies react to ECB stimulus measures September 5, 2014 Not content with falling against the dollar and the pound, the euro yesterday slid against the Russian rouble too. In fact, after the European Central Bank's (ECB) surprise stimulus measures, the euro fell against every currency listed in the ECB data store, except the Czech koruna and the Bulgarian lev. And it only rose against the [...]
European markets cautious as Nato summit begins September 4, 2014 European markets took a break from recent rallies as the leaders of Nato countries prepared to meet at the Celtic Manor resort in Wales this morning. Having hit its highest level in 14 years yesterday, the FTSE 100 rose a modest 0.1 per cent to 6,880 in early trading, while France's Cac fell 0.4 per [...]
Finally: France puts Russian warship delivery on hold September 4, 2014 The French government has halted the controversial delivery of a warship to Russia over the escalating tensions in Ukraine. President Hollande said conditions were “not right” to deliver the first of two warships to the Russian navy as part of a €1.2bn (£959m) contract. The French government had previously resisted calls from other countries to halt [...]
Ukraine can’t win in this crisis – but Putin can be made to pay for his victory September 3, 2014 IT IS a standard rule of thumb in global risk analysis that the side in a conflict calling for a ceasefire is the side that is losing. Until two weeks ago, President Putin of Russia – seeing his Kremlin-sponsored separatists on the run in the face of a rejuvenated Ukrainian army – was all for [...]
Armed men occupy offices of leading Ukrainian football club Shakhtar Donetsk September 3, 2014 "Armed men" have occupied the offices of Ukrainian football club Shakhtar Donetsk, according to a news story posted to the club's official website. The story claims that Shakhtar offices in Donetsk have been occupied and requests all official correspondence be redirected to an alternative address in the city. The club states that "circumstances of [...]
Which European countries would be hardest hit by a Russian gas embargo? September 3, 2014 With relations between Europe and Russia at their worst point since the fall of the Berlin wall, the Institute of Energy Economics (EWI) has taken it upon itself to examine what would happen to various European nations if Russia imposed a gas export embargo in November 2014. The good news for the UK is that [...]
Kremlin quashes “permanent” ceasefire claim as blasts heard in Ukraine September 3, 2014 In this morning's newsletter we noted our scepticism at the use of the word “permanent” when it came to the ceasefire between Russia and Ukraine. Sadly, within two hours of the announcement from Ukrainian president Petro Poroshenko, it turns out that phrase has indeed met with some stumbling blocks. Although Poroshenko's Tweet has not [...]
2018 World Cup: EU countries consider boycott September 3, 2014 The EU is considering a boycott of the 2018 Russia World Cup as a future sanction against the country's role in the Ukraine crisis. Sporting sanctions will not form part of the European Commission's debate about further action against Rusia today, which is expected to announce a ban on the purchase of Russian government bonds. [...]
FTSE at its highest in 14 years as Ukraine agrees “permanent ceasefire” with Russia September 3, 2014 Markets reacted with relief this morning after Ukrainian president Petro Poroshenko tweeted that the country had agreed a "permanent ceasefire" with Russia. The FTSE 100 rose 1 per cent to 6,897 – its highest in 14 years – while the euro jumped 0.12 per cent, to 1.31 dollars. Investors also piled back into Russian equities, [...]