The global market advanced amid relief that despite reclaiming Crimea, Russia indicated it will not make further claims on Ukraine. A war in the region would disrupt global oil and grain supply, causing volatility in the markets.
Share markets in Australia, Britain and Europe were also higher after President of Russia Vladimir Putin stated that the annexation of Crimea was not a first step in a bid to partition Ukraine.
Last week world markets, especially European ones, were very cautious, while gold rallied on fears of political risk between Russian and Ukraine.
Source: Fairfax Media