NextGen Day

ISTANBUL, Turkey – Global stock markets performed well thanks to lower commodity prices and encouraging developments in the Russia-Ukraine conflict.

Brent oil was trading at USD103 a barrel on Monday, and it is currently trading at USD108.6. Gold was trading for around USD1,930 per ounce, up from USD1,917 on Monday.

Last week, representatives from Russia and Ukraine met in Istanbul and agreed to scale back military operations in Kyiv and Chernihiv.

The results of the negotiations, according to Mikhail Podolyak, counselor to the Ukrainian Presidential Office, were sufficient for a meeting at the level of heads of state.

Although good developments raised risk appetite in global markets and lowered commodities costs, Russia’s currency decision continues to affect natural gas prices.

President Vladimir Putin of Russia signed a directive requiring “unfriendly” countries to pay for Russian gas in rubles beginning of April 1, and stated that gas contracts will be terminated unless payment is made in rubles.

On Monday, practically all major indices in Asia, Europe, and the United States ended the day in the green.

The Nasdaq index in the United States rose 1.9 percent, or 271 points, to 14,532, mainly to a rise in technology shares sparked by Twitter.

Twitter’s stock soared 28 percent in one day after the business announced that Tesla CEO Elon Musk had purchased a 9.2% interest in the firm.

After nine consecutive monthly rises, new factory orders in the United States dipped by USD2.7 billion, or 0.5 percent, to USD542 billion in February, according to data released on Monday.

Turkiye’s main stock index rose 2.65 percent on Monday, finishing at a new high of 2,311.40 points.

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