Live Markets: Dusting off Ukraine ceasefire baskets

Ferrexpo

12/05/2025 12:48

STOXX 600 up 1%

US-China reach deal to slash tariffs

Miners, luxury lead gainers

S&P futures surge 3%

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

DUSTING OFF UKRAINE CEASEFIRE BASKETS

Besides de-escalation in Trump's trade war with China, there is also good news from the Ukrainian front with Zelenskiy ready to meet Putin in Turkey on Thursday and the Kremlin proposing the first direct talks since the early months of the invasion.

Although there are still many unknowns, including Putin's presence at the talks, these developments are supporting the mood across broader markets, while also putting stocks poised to benefit from any ceasefire back in the spotlight.

Miner Ferrexpo FXPO.L, for example, shot up 16% at the open in London today, illustrating the potential for gains in Ukraine and Russia-exposed plays should any deal to stop hostilities get through.

Among possible beneficiaries are also firms like Austrian bank Raiffeisen RBIV.VI, airlines, materials groups such as Holcim HOLN.S, BASF BASFn.DE and Aperam APAM.AS, along with utilities like E.ON EONGn.DE, according to Barclays.

"Although no truce is currently planned, this is an essential step toward a ceasefire," says CIC Market Solutions.

At UBS, Mark Haefele, Global Wealth Management Chief Investment Officer, affirms his base case of a ceasefire deal this year, noting that "momentum appears to be building".

(Danilo Masoni)

*****

EARLIER LIVE MARKET POSTS:

EUROPEAN BANKS: A RESILIENT EARNINGS SEASON CLICK HERE

STAY BULLISH! US EQUITIES LIKELY TO OUTPERFORM EUROPE CLICK HERE

US-CHINA DEAL LIFTS MINERS, AUTOS, LUXURY; DRAGS DEFENCE CLICK HERE

BEFORE THE BELL: EUROPEAN FUTURES RALLY, PHARMA DOWN CLICK HERE

THE DEVIL'S IN THE LACK OF DETAIL CLICK HERE

Ukraine basket Barc https://tmsnrt.rs/4mcWxfQ