Business World

Monday 27 January 2020

European shares slide after US air strike in Iraq

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Independent.ie Business Desk

Independent.ie Business Desk

European shares slipped from near record-highs on Friday as geopolitical tensions flared after a US air strike in Iraq killed a top Iranian commander.

The pan-European STOXX 600 index was down 0.6pc at 08:03 GMT, with all the major country indexes well in the red.

Iranian Major-General Qassem Soleimani, architect of the country's spreading military influence in the Middle East, was killed in the air strike at Baghdad airport, prompting a vow of harsh revenge from Iran's Supreme Leader Ayatollah Ali Khamenei.

The report sent jitters through global financial markets, with Asian shares giving up early gains and US stock index futures sliding about 1pc. However, oil prices surged about 3pc.

All but one European subsectors declined between 0.4pc and 1.2pc.

Oil and gas stocks gained 0.4pc.

Reuters

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