Europe close: Stocks end lower after reports of ceasefire breaches in Ukraine
By Alexander Bueso
Date: Thursday 17 Feb 2022
(Sharecast News) - European shares slipped into the red on Thursday as Ukrainian and separatist forces in the country's east traded accusations of having broken ceasefire agreements along the demarcation line.
The pan-European Stoxx 600 index was down by 0.69% at 464.55, alongside a 1.11% decline for the FTSE Mib to 26,669.27 and a 0.67% drop on the German Dax to 15,267.63.
Reports emerged late Thursday morning that a kindergarten on the Ukrainian side of the border had been struck by shelling, with three people confirmed injured. The Organisation for Security and Cooperation in Europe, which has been monitoring the long-running Donbas conflict, reported "multiple incidents of shelling" in eastern Ukraine.
In turn, pro-Russian separatists accused Ukrainian forces of having fired mortar rounds into their territory overnight.
Meanwhile, Washington accused Russia of adding 7,000 troops to the 150,000 already camped at the Ukrainian border, branding as "false" the Kremlin's claims that it had begun a partial withdrawal of its military presence.
A meeting of NATO defence ministers in Brussels was scheduled to conclude on Thursday.
Investors were also digesting the latest minutes from the US Federal Reserve, which showed officials had started preparing to raise interest rates and unload the trillions of dollars of bonds on the central bank's balance sheet.
In equity news, shares in Asia focused bank Standard Chartered gained despite having missed annual earnings estimates.
Reckitt Benckiser shares jumped as the consumer goods company suffered an £804m annual operating loss caused by the sale of its Chinese infant formula business but was upbeat about growth.
French luxury goods maker Kering advanced after the company reported sharp growth in fourth-quarter sales as marketing investments and 100th anniversary events helped boost the popularity of its top Gucci brand.
Airbus dipped 1.2% after the world's largest plane maker predicted 720 jetliner deliveries and higher profits this year.
Commerzbank gained after the German lender swung to a better-than-expected fourth-quarter and painted an upbeat outlook for 2022.
Carrefour shares rose as the French supermarket chain after reporting an improved outlook and higher profits on Wednesday.
Continental shares were higher after Manager Magazin reported the German auto parts supplier is considering splitting into four separate businesses.
Swedish cloud communications company Sinch slumped 23% on news it had signed a new loan facility.
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