Tesla’s factory shuts down again

News of the day, Monday, March 28

Tesla suspends its Shanghai production plant again on Monday for at least one day as the Chinese government intensifies COVID restrictions. Recently China has imposed new COVID lockdowns after a vast surge of new disease cases. Tesla hasn’t yet informed its employees whether they will extend the suspension.

European shares climbed on Monday as markets watch for the development of the Ukraine situation — the next phase of Russia-Ukraine negotiations take place on Monday in Turkey. The President of Ukraine Volodymyr Zelenskiyy has announced that the country is ready to discuss the adoption of neutral status as one of the points of a peace deal with Russia. At the same time, US President Joe Biden said Russian President Vladimir Putin “cannot remain in power”. The European STOXX 600 has increased by 0.5% in early trade.

The price of Brent crude is $113.30, WTI — $109.30, GBP/USD — 1.3162, EUR/USD — 1.0986, and gold costs $1927.50 per ounce.