Sunday 18 August 2019

Markets brace for sell-off after Paris attacks

Global stocks are set for a short-term sell-off today after Islamist militants' attacks across Paris, but few strategists expect a prolonged economic impact or change in prevailing market directions.

If anything, any initial damage to economic confidence, tourism and trade within Europe will likely reinforce the European Central Bank's resolve to easing monetary policy further next month, they reckon. That will keep pressure on the euro exchange rate and support other European asset markets.

President François Hollande has declared a state of emergency and set three days of official mourning after the attacks he called an "act of war" by Isil.

However, French financial markets will be open as usual today, stock and derivatives exchange Euronext said on Saturday. (Reuters)

Irish Independent

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