Stocks down, gold up after aborted Russian mutiny ignites safe-haven push
Timilehin Adejumobi
1 min read
Global shares fell, while gold rose after an aborted uprising by Russian mercenaries raised questions about the authority of President Vladimir Putin, leaving investors little option but to focus on the broader macroeconomic picture.
The MSCI All-World index (.MIWD00000PUS) was last down 0.l%, led by declines in Europe, where defence stocks weighed on the STOXX 600 (.STOXX), which fell 0.3%.
Gold , often perceived as a safe-haven in times of geopolitical or market turmoil, rose 0.6% to $1,932 an ounce.
Brent crude futures eased 0.3% to $73.69 a barrel, having earlier fetched as much as $74.80. The rouble dropped to a 15-month low early in Moscow.
Russian mercenaries made a short-lived rebellion on Saturday, seizing the southern city of Rostov and advancing on Moscow demanding the removal of Russian military commanders in charge of the war in Ukraine.
The private Wagner army then withdrew after striking a deal guaranteeing their safety and the passage of their leader, Yevgeny Prigozhin, to Belarus.
The consequences for the Ukraine war were not clear, though the challenge to Russian President Vladimir Putin’s authority was the starkest in decades of his leadership.
This report’s information was first seen on REUTERS; to read more, click this link.
