Europe: Stocks climb at open on Ukraine hopes

[LONDON] Europe's main stock markets advanced on Monday (Mar 14) in opening deals, despite tech-fuelled losses in most of Asia, as investors seized on hopes of progress in peace talks between Russia and Ukraine.

London's benchmark FTSE 100 index of major blue-chip companies gained just 0.1 per cent to 7,161.78 points.

In the eurozone, Frankfurt's DAX index jumped 1.9 per cent to 13,886.35 points and the Paris CAC 40 won 0.6 per cent to 6,299.20.

Russia said Sunday that negotiators were making headway at talks to resolve fighting in Ukraine, more than 2 weeks after President Vladimir Putin ordered his army over the borders of its pro-Western neighbour.

However, talks have yet to yield a ceasefire and Russian forces have shown no sign of easing their onslaught.

"With more questions than answers currently available, any short-term market rallies are currently lacking conviction," said Interactive Investor analyst Richard Hunter.

"Once more, there was optimism that some progress may be on the cards in the ongoing talks between Russia and Ukraine." Asian equities mostly fell on Monday, with tech firms among the worst-hit due to concerns over China's crackdown on the sector and as the country's tech hub Shenzhen was put into Covid lockdown.

This week's Federal Reserve meeting is also in focus as it prepares to start lifting interest rates to tackle decades-high inflation. AFP