Global shares rise on easing Ukraine tensions, cheaper oil

Tokyo: Global shares rose Wednesday, buoyed by hopes that a diplomatic solution might avert a Russian invasion of Ukraine.

France’s CAC 40 edged up 0.7% in early trading to 7,030.39. Germany’s DAX rose 0.8% to 15,540.97. Britain’s FTSE 100 gained nearly 0.2% to 7,621.99. The future for the Dow industrials was 0.3% higher at 34,996.00. The S&P 500 future rose 0.3% to 4,475.75.

But analysts warned the tensions were far from completely resolved, and the situation remains volatile. “In short, provided we get a further pause in geopolitics, we might be able to focus on worrying data instead.

But I would tread carefully on the assumption that we will be able to for long,” RaboResearch said in a report.

\In Asia, Japan’s benchmark Nikkei 225 jumped 2.2% to finish at 27,460.40. Australia’s S&P/ASX 200 rose 1.1% to 7,284.90. South Korea’s Kospi surged 2.0% to 2,729.68.

Hong Kong’s Hang Seng added 1.5% to 24,718.90, while the Shanghai Composite gained 0.6% to 3,465.83. The Chinese government reported consumer prices rose 0.9% over a year earlier in January while prices of goods as they left the factory rose 9.1%