Ongoing clashes in the Ukraine and the West’s response to Russia continue to drive market sentiment.

After a big rally in the US on Friday where we saw S&P 500 rising by 2%, Australian shares closed by 0.44% higher today.

Investors are cautiously optimistic about the potential for a Russia-Ukraine dialogue, while digesting the likely impact of the latest round of sanctions imposed on Russia.

The US and European countries have practically smothered Russia’s ability to taps its funds overseas by cutting the country off from the SWIFT banking system, and freezing the assets of its central bank.

US 10-year treasury and Aussie yields have fallen through the afternoon session, signifying traders’ belief that central banks will not move as aggressively in the face of an ongoing war.

Oil has retreated to below US$100 at around US$98/barrel, while gold prices are back below the $1900 level as risk appetite returns, albeit temporarily.

On the ASX, Energy and Mining sectors were the top performers today, up by around 2%, while Financials was the worst, down almost 1%.

At the time of writing however, US stock futures are showing 2% lower.

BIG CAP WINNERS

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Dicker Data (ASX:DDR) has continued its strong momentum, after reporting a calendar 2021 increase in net profit of 28% to $73.6m, as sales climbed 24.2% to $2.48 billion.

Dicker announced a dividend of 42c a share, but did not provide guidance.

BIG CAP LOSERS

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Real estate play Winton Land (ASX:WTN) was the biggest loser today, down 13.5%, after revising its half year results on Friday. The company has reaffirmed its FY22 NPAT guidance of $98.8m, after earlier reporting $8.8m.

Mobile app company Life360 Inc (ASX:360) was down by 9% on no news. Last week however, the company announced an EBITDA loss of US$(31.4)m (compared with US$(16.0)m in the pcp) on the back of rising revenue of US$112.6m.