The S&P/ASX 200 Index (ASX: XJO) managed to recover from an early setback this morning.
By mid-morning, the ASX 200 had fallen around 0.80% to 7,160 points. But by the close of trade, the ASX 200 ended the day up 0.16% to 7,234 points. From the day’s low, there was a gain of 1.1%.
Russia optimism
Readers are probably aware of the military build-up in Eastern Europe by Russia with an invasion seemingly possible any day now.
The US President Joe Biden has said he is convinced that Russian President Vladimir Putin had decided to invade Ukraine. Russia has repeatedly denied that it was going to invade Ukraine.
But countries like the USA and Germany have warned of severe sanctions and economic consequences for Russia if it does go ahead with an operation.
So, what’s the optimism?
Today, it was reported that US President Joe Biden has agreed in principle to hold a meeting to discuss what’s going on with Ukraine. This was proposed by France. But the talks will only go ahead if Russia does not invade Ukraine.
However, the US still believes that Russia is preparing for a large attack very soon. Maxar satellite images show “multiple new field deployments of armoured equipment and troops from Russian garrisons near the border with Ukraine, indicating increased military readiness.”
How some ASX 200 shares ended the day
Share prices changes at the big end of the ASX were relatively small.
The BHP Group Ltd (ASX: BHP) share price went up 0.6%, whilst the Commonwealth Bank of Australia (ASX: CBA) share price rose 0.35%. The CSL Limited (ASX: CSL) share price dropped 0.75%.
However, there were a few pieces of news that may have helped drive some businesses higher.
The A2 Milk Company Ltd (ASX: A2M) share price jumped 11% after reporting its FY22 half-year result, with a promising outlook.
A (rejected) takeover approach sent the AGL Energy Ltd (ASX: AGL) share price up 10.6%.
Alcohol retailer and hotels business Endeavour Group Ltd (ASX: EDV) saw its share price jump profit growth in the first half of FY22.
The Chorus Ltd (ASX: CNU) share price rose almost 10% after reporting its result as well.
The post ASX 200 shares stage comeback amid Russia optimism appeared first on The Motley Fool Australia.
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More reading
- Here are the top 10 ASX shares today
- Why has the South32 (ASX:S32) share price rocketed 60% in 6 months?
- Own ASX dividend shares? Here are some of the payouts that have surprised so far this earnings season
- Chorus (ASX:CNU) share price jumps 10% today amid guidance upgrade and NZ$150m buyback
- These 3 ASX 200 shares are topping the volume charts this Monday
Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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