World equities recover on Ukraine talks

LONDON/SHANGHAI, March 16 (Reuters): World stocks recovered ground on Wednesday as markets watched for signs of light in the Ukraine conflict, while Treasury yields hit their highest since mid-2019 in anticipation of the first U.S. interest rate hike in three years.

Chinese stimulus hopes also boosted stocks.

Ukrainian President Volodymyr Zelenskiy said on Wednesday peace talks between Russia and Ukraine were sounding more realistic but more time was needed, as Russian air strikes killed five people in the capital Kyiv and the refugee tally from Moscow's invasion reached 3 million.

Russia's foreign minister Sergei Lavrov also said some formulations of agreements with Ukraine were close to being agreed.

U.S. 10-year Treasury yields rose to 2.204pc on the Fed rate hike hopes, their highest since June 2019. The five-year yield rose to 2.149pc, its highest since May 2019.