European markets choppy as Russia-Ukraine tensions rise; Porsche, VW surge in IPO talks – CNBC

LONDON — European stocks were volatile on Tuesday as global markets were shaken by developments in the Russia-Ukraine crisis.

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U.S. stock futures were slightly lower in early premarket trade, also retracing some earlier losses as traders continued to monitor brewing tensions between Russia and Ukraine. Markets in Asia fell overnight, with Hong Kong’s Hang Seng index leading losses regionally.

Earnings came from HSBC, Fresenius, Antofagasta and IHG on Tuesday.

In terms of individual share price movement, Porsche Automobil Holding and Volkswagen gained 13.7% and 9.4% respectively after confirming advanced discussions about a potentially record-breaking IPO for Porsche.

At the bottom of the index, British retail investment platform Hargreaves Lansdown plunged more than 15% after reporting a decrease in profit for the first half of fiscal 2022.

On the data front, Germany’s Ifo business climate index rose to 98.9 in February from 96.0 in January despite the situation in Ukraine, though the research institute said German businesses already afflicted by supply bottlenecks will see a drag.

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– CNBC’s Amanda Macias contributed to this market report.

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