BREAKING: Indices rally on Financial Times report

European and US stock market indices jumped in the early afternoon, following the release of Financial Times report. FT claims that Ukraine and Russia are already in the process of drawing up a neutrality plan for Ukraine that will end the war. Details are scarce so far but Financial Times claims that progress was made on the 15-point peace plan. The plan includes a ceasefire and withdrawal of Russian troops under the condition that Ukraine decides on neutrality and accepts limits on armed forces. Kyiv would also have to renounce its ambitions of joining NATO.

While this is certainly a positive, it should be noted that plan is still being prepared and negotiations are ongoing. Nevertheless, report triggered a clear "risk-on" moves on the markets. S&P 500 jumped 0.7% on the news while DE30 rallied almost 2%!

DE30 jumped almost 2% following Financial Times report on peace talks between Russia and Ukraine. The index cleared 14,420 pts swing area and trades at levels not seen since February 25, 2022. Source: xStation5