Buying Into The End Of Ukraine War Is A Very Long Shot

By Michael Msika, Bloomberg markets live reporter and strategist

Judging by the action in European (and FX) markets, it’s as if we’re just a phone call away from a ceasefire in Ukraine.

The end of the war was always a wild card for European equity markets. Now investors are starting to prepare for this scenario, aggressively buying energy-intensive sectors and European laggards, and taking some profits on defense shares.