European stocks rose in early trading on Wednesday, thanks to an interview with the Ukrainian president in which he appears to have made some serious concessions.
The Stoxx Europe 600 SXXP, +3.37%, rose 2.2% to 424.28, helped by a rally in the beleaguered banking sector.
The winners included BNP Paribas BNP, +8.76%, Adidas ADS, +10.04% and Deutsche Post DPW, +8.86%. Adidas has set out bullish forecasts for 2022, including a rebound in China. Deutsche Post announced a new share buyback targeting stable profits, excluding the impact of the conflict in Eastern Europe.
Of the major regional indices, the German DAX DAX, +5.17%, rose 3.5%, the French CAC 40 PX1, +5.03%, rose 3.1% and the UK FTSE 100 UKX, +1.95%, rose by 2.1%.
Futures for the Dow Jones YM00 Industrial Index +1.28% rose 323 points.
Volodymyr Zelensky told ABC News that “I’ve lost interest in the question” of NATO membership and said he was open to dialogue about the fate of the eastern Ukrainian republics of Donetsk and Lugansk, which Russia recognizes as independent.
British Prime Minister Boris Johnson said this week that Ukraine has no “serious prospects” for NATO membership. The foreign ministers of Russia and Ukraine are due to meet on Thursday in Turkey.
“Although the outlines of the end of this war are becoming visible, this does not necessarily mean that the fighting will stop anytime soon,” said Arne Petimesas, senior analyst at AFS Group.
Anglo-Russian gold miner Polymetal International POLY, +44.37%, rose 37%. Polymetal stated that, for the purposes of European Union sanctions, it is not owned by or acting under the direction of a person associated with Russia.