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European indices trade slightly higher
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DE30 tries to climb back above 14,000 pts
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Airbus halts support and spare parts deliveries to Russian airlines
Major stock market indices from Europe are trading slightly higher today. Indices from Switzerland, Austria and Sweden are exception and trade lower. Situation on the equity markets calmed somewhat but commodities continue to experience massive moves. Brent broke above $110 a barrel today while WHEAT trades above $10.00 per bushel. Russia said that it delegation will wait for Ukrainian delegation today to hold talks but it was not confirmed by Ukrainian side.

Source: xStation5
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Open account Try demo Download mobile app Download mobile appDE30 dropped below the 14,000 pts mark yesterday in the evening. After initial weakness at the start of today's cash session in Europe, the index started to regain some ground. However, based on recent price action, a period of range trading between 13,750 and 14,000 pts areas cannot be ruled out now. From a technical point of view, the direction of a breakout will determine the next bigger move. Nevertheless, traders should keep in mind that geopolitical situation is tense and war is raging on in Ukraine. Having said that, news headlines could lead to sudden and volatile twists.
Company News
Airbus (AIR.DE) announced that it has halted all deliveries of spare parts to Russian airlines and suspended all support. Nevertheless, the company said that it is currently examining whether its engineering center in Moscow can continue services to Russian companies locally. Similar move was announced by Boeing yesterday, making it a massive hit for Russian airlines. Fleet of Aeroflot consisted of 187 aircrafts in service as of January 2022 and 177 of those were either Boeing or Airbus planes.
Supply disruptions caused by war in Ukraine start to impact European industrial companies. Volkswagen (VOW1.DE) and BMW (BMW.DE) announced that they will have to halt production at some plants due to shortage of parts from Ukraine. Volkswagen said that some of its factories will be idle next week followed by a broader shutdown in the third week of March. BMW said that it also expects temporary plant shutdowns and that it suspends all imports to Russian as well as activities in assembly plants in the country.
DWS, asset management subsidiary of Deutsche Bank (DBK.DE), announced that its mutual funds will no longer invest in Russia.

Deutsche Bank (DBK.DE) has relatively large exposure to Russia and therefore its shares are tanking since the start of the Russian invasion. Stock dropped 30% off its early-February high and almost fully erased 6-month-long upward move. Source: xStation5
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