Global Stocks Fall After Paris Attacks
Global Stocks Fall After Paris Attacks
TOKYO (AP) -- Global stocks fell Monday after the attacks in Paris last week sent worries across the world about their possible economic effects.
KEEPING SCORE: France's CAC 40 slipped 0.9 percent to 4,766.97 and Germany's DAX lost 0.6 percent to 10,643.39. Britain's FTSE 100 declined 0.3 percent to 6,102.63. U.S. shares were set to drift lower with the 500 futures falling 0.1 percent to 2,016.
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ASIA'S DAY: Japan's benchmark Nikkei 225 fell nearly 1 percent to close at 19,393.69. Australia's S&P/ASX 200 lost nearly 1 percent to 5,003.80. South Korea's Kospi was down 1.5 percent at 1,943.02. Hong Kong's Hang Seng fell 1.7 percent to 22,010.82, while the Shanghai Composite added 0.7 percent to 3,606.96. Other regional markets were also lower, including Taiwan and Singapore.
PARIS WORRIES: The attacks left 129 people dead and more than 350 injured. Investors, already nervous about slowing growth in China and the future of the eurozone, are fretting about stocks and oil prices. Travel could slow not only to Paris but other major cities, hurting airlines and other related businesses. A decline in tourism in Europe could weaken the euro.
THE QUOTE: "All indications are that these negative moves will only be temporary and are likely to dissipate over the coming days," Angus Nicholson, market analyst at IG in Melbourne, said of the stock drop and the pursuit of safe havens like gold. "The bigger question is whether this will see an escalation of the conflict in Syria and Iraq."
TRAVEL ISSUES: Qantas Airways fell 1.7 percent, recovering an earlier bigger fall. Japan Airlines fell nearly 3 percent, while ANA Holdings slipped 3.5 percent. Major Japanese travel company HIS Co. dropped 5 percent.
ENERGY: U.S. crude added 7 cents to $40.81 a barrel. Brent crude, which is used to price international oils, was up 31 cents at $44.78 a barrel.
CURRENCIES: The euro declined slightly to $1.0749 from $1.0751 late last week, while the dollar edged down but rebounded to $122.63 yen, little changed from $122.67 yen late last week.
(KA)