European financial markets remain cautious about the prospects of a peace deal in Ukraine, with analysts expressing scepticism over talks currently taking place in Berlin. Market participants point to the absence of Russia from the negotiations, with discussions instead involving U.S. and European officials.br br Some analysts say the unusual format has raised doubts about whether a lasting agreement can be reached, arguing that meaningful progress would require all parties to be present at the negotiating table. The uncertainty has weighed on investor confidence as markets assess the chances of an end to the conflict.