May 22, 2022

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European stock markets rise ahead of Biden-Putin summit


Paris -. Prior to the French announcement of the summit between US Presidents Joseph Biden and Russian President Vladimir Putin on the Ukrainian crisis, major European stock markets recorded gains today, although talks about the Moscow meeting were considered a foregone conclusion.

This morning, the London Stock Exchange rose 0.56 percent, Frankfurt 0.32 and Paris 0.30, while the Milan Stock Exchange was stable.

Fears of conflict in Eastern Europe, triggered by US accusations that Russia is preparing to invade its neighbor, have created instability in world financial markets, and while Moscow insists it does not want war, NATO can only guarantee security to stop expanding and threatening. Its boundaries.

The French government said today that both Biden and Putin had accepted President Emmanuel Macron’s proposal to hold the meeting, which sparked a rally in the stock market.

Following the announcement of the Elysee Palace, the Kremlin spokesman Dmitry Peskov said it was a foregone conclusion that there would be a presidential summit in the coming days.

According to the speaker, there is an understanding that contacts will take place at the level of diplomatic leaders.

Despite the anticipation that the French announcement of the summit would eventually intensify, the warnings of the Elysee and the White House raised concerns because Russia would certainly not welcome any attempt to impose conditional dialogue on it.

Both France and the United States have announced that the summit will take place only if Russia does not invade Ukraine.