Global shares pause on inflation view; oil steady on Ukraine talks

Global shares were little changed on Wednesday, pausing after a six-day slump amid a mixed inflation picture, while floundering peace talks between Russia and Ukraine kept oil hovering near recent highs.

Hawkish moves from the world’s top central banks as the Russian invasion of Ukraine pumped up inflation pressures have weighed on equity markets since the start of the year, with the MSCI World Index down around 10%.

Data on Wednesday showed no let-up for Britain after inflation hit a 30-year high of 7%, although this came a day after a lower-than-expected print in the United States which had given some traders cause to hope policy may be tightened more slowly.