European equities have opened lower after Russia began a fresh ground offensive in Ukraine while the World Bank cut its global growth forecast, citing the inflationary effects of the war.
The Stoxx 600 share index fell 0.7 per cent in early dealings on Tuesday, while London’s FTSE 100 edged 0.1 per cent lower and Germany’s Xetra Dax slipped 0.5 per cent. In Asia, Hong Kong’s Hang Seng share index fell 2.2 per cent as worries about global growth combined with a move by Chinese authorities to tighten regulations on the country’s lucrative livestreaming industry.
Ukrainian president Volodymyr Zelensky said on Monday, when major European markets were closed for the Easter holiday, that Russia had concentrated a “significant part” of its forces in the eastern Donbas border region. The World Bank lowered its global economic growth forecast from 4.1 per cent to 3.2 per cent and forecast a contraction in Europe, which is vulnerable to sanctions against Russia and supply chain disruptions causing energy and food prices to soar.
The price of gold, which touched its highest…
