Stocks climb, oil rises amid cease-fire talks

Stocks climb, oil rises amid cease-fire talks

Stocks















Bloomberg

Stocks rise on Tuesday as cease-fire talks between Russia and Ukraine helped fuel risk appetite.

The Stoxx Europe 600 Index advanced, with auto and consumer stocks outperforming. US equity futures climbed after benchmarks rose for a third session. Oil reversed earlier declines as investors weighed the impact of China’s mobility curbs against a Covid-19 resurgence on demand.

Government bond yields rise, with bets on aggressive US monetary tightening hurting shorter maturity Treasuries. Inversions along the curve, where some short-term rates exceed longer tenor yields, point to concerns about a looming economic downturn as the Federal Reserve hikes interest rates to quell high inflation.

The yen rises from around a six-year low against the dollar amid divergence between the Fed and a dovish Japanese central bank. The latter continued with bond-market intervention to cap a surge in yields.

Among individual moves, Barclays Plc falls as a shareholder sold about 900 million pounds ($1.2 billion) of stock, a day after the lender revealed a costly blunder in how it sold billions of dollars in securities.

Global shares are up about 8% from the lows reached after Russia invaded Ukraine. Such resilience contrasts