Australian shares open moderately higher, as news over the weekend of tougher Western sanctions against Russia dampens the flow-through from a global market rally on Friday.
Australian shares have opened moderately higher, as news over the weekend of tougher Western sanctions against Russia dampened the flow-through of a global market rally on Friday.The ASX rose moderately in early trade despite a big rally on overseas markets on FridayMarkets are reacting to news of tougher sanctions against Russian financial institutions
But that strong rebound from Thursday's heavy losses was before the US, UK, EU and Canada announced that some Russian banks would be cut off from the key global financial transaction service SWIFT, and that the Russian central bank would be denied access to much of its foreign reserves."If a key reason for this was because sanctions announced by the US and Europe fell short of what they might have been, then it is hard to see the rally surviving the early part of the week.
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