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March 5th - According to the China State Railway Group, in response to the post-holiday travel peak for migrant workers, the railway department has taken multiple measures to strengthen transport capacity and station/train services to ensure the safe and orderly return of migrant workers to their jobs. This years Spring Festival travel rush saw the railway department focusing on the travel needs of migrant workers, implementing a pre-booking system for tickets, operating "point-to-point" special trains for migrant workers, opening green channels for migrant worker groups, holding special train job fairs, and strengthening transportation connections. More than 60 "point-to-point" special trains for migrant workers have been operated since the holiday, effectively supporting enterprises in resuming work and production and stabilizing employment.Ukrainian President Zelensky: In view of the situation in the Middle East, Ukraine has communicated with the United States about the possibility of changing the venue for the new round of Russia-Ukraine negotiations and postponing the negotiation time.Morgan Stanley became the latest Wall Street brokerage firm on Thursday to predict that the European Central Bank (ECB) will keep interest rates unchanged until 2026, citing potential inflation risks from the Middle East conflict. The firm had previously expected two rate cuts by the ECB in June and September, but now anticipates the central bank will postpone these cuts until 2027. Last month, Bank of America Global Research withdrew its 2026 rate cut forecast. Morgan Stanley analysts stated in a report, "Given the recent rise in energy prices, eurozone inflation is likely to rise above the ECBs target level for the remainder of this year." The analysts added, "By 2027, inflation may fall below target again, but this depends on a rapid normalization of the energy market."The onshore yuan closed at 6.9003 against the US dollar at 16:30 on March 5, up 117 points from the previous trading day.Germanys construction PMI for February was 43.7, compared to 44.7 in the previous month.

Commodity-linked gains lift FTSE; fading Ukraine optimism weighs on midcap index

Cameron Murphy

Mar 31, 2022 09:47

(Reuters)-- London's FTSE 100 increased on Wednesday, aided by a jump in commodity-linked shares. At the same time, uncertainties emerging around the development of the Russia-Ukraine peace negotiation weighed on general belief and dragged the midcap index lower.


After dropping as much as 0.18%, the blue-chip index shut 0.6% greater, with energy and miners leading gains, while the domestically-focused mid-cap index dropped 1.0%, breaking its three-day winning streak.


Oil majors BP Plc and Covering Plc got 3% and 4.6%, specifically, as oil rates clawed back hefty losses suffered earlier today. Covering also got an increase after J.P. Morgan elevated its cost target. [O/R] The Kremlin on Wednesday stated there was no development indicator yet in talks, even as it welcomed that Kyiv has laid out its demands to finish the dispute in written form.


"The release from the Kremlin this morning that it saw no innovations in peace negotiation has seriously increased doubts regarding its proposal to de-escalate," stated Stuart Cole, ahead macroeconomic expert at Equity Capital.


Moscow on Tuesday vowed to minimize military operations around Kyiv and in north Ukraine.

Including in the worries, the widely tracked U.S. 2-year-10-year Treasury yield curve briefly inverted on Tuesday, which is extensively considered an indication of an economic downturn.


"The quick inversion in 2yr-10yr Treasury returns aggravates concerns that global central bank actions to bear down on inflation will create a decline in development," Cole added.


Other breakthroughs were topped by weakness in financials, down 1.3%. Lloyds Financial Team led losses after RBC double downgraded the supply to "underperform," saying growth vehicle drivers did not appear to be "game-changing."


The commodity-heavy FTSE 100 is tracking a sixth straight quarterly gain, buoyed by higher oil and gas prices. At the same time, the FTSE 250 is established for its first quarterly decrease since March 2020 amidst increasing problems concerning damage to economic growth due to surging inflation.


To name a few stocks, Pearson fell 5.9% to the bottom of FTSE after the education team stated it had turned down a third takeover offer from Beauty, valuing it at 6.7 billion pounds ($8.8 billion).

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