CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
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    Business news: Russia bans BA from airspace as sanctions build

    By Jenny McCall

    12:05, 25 February 2022

    Ursula von der Leyen, President of the European Commission, speaking at a microphone
    Ursula von der Leyen, President of the European Commission – Photo: Shutterstock.

    Key points

    It was announced today that Russia has closed its airspace to British airlines and banned planes from landing at its airports.  

    British Airways apologised to its passengers for the inconvenience caused by the flight ban, but added that the matter was “beyond our control”, reported the BBC.

    US President Joe Biden announced yesterday (Thursday 24 February) that it will hit Russia with sanctions due to its invasion of Ukraine. This will include sanctions against banks and state-owned enterprises. 

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    Other significant business and economic news

    Meanwhile, the European Union announced today that it will iron out details regarding sanctions towards Russia due the Ukraine conflict. European Commission President Ursula von der Leyen said that President Vladimir Putin “must and will fail.”

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    Markets today

    • Stocks: Following US stocks dramatic rally yesterday (Thursday 24 February), European stocks rose today as investors welcomed impending sanctions from the West against Russia.
    • Oil: Oil prices fell today as the Russian invasion of Ukraine continued.  
    • Gold: Gold prices firmed today following the previous day, which saw prices reaching 18-month highs.
    • Forex: The British pound stabilised today and recovered from a two-month low.
    • Crypto: Bitcoin was up almost 10% and ethereum also jumped over 10% today in afternoon trading.  

    What to watch today

    French finance minister Bruno Le Maire announced today that the option of removing Russia from the SWIFT global interbank payments system was open, but seen as a last resort.

    Related topics

    #EURO STOXX 50 #Oil #Ethereum #GBP #Bitcoin

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    Related reading

    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
    CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
    Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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