Reuters Insider - Market unease limited over Paris attacks

Baader Bank AG

16/11/2015 14:23

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        European shares pared losses to trade slightly    
                     higher, as gains in the energy sector partly      
                     offset a slump in travel stocks after the deadly  
                     attacks in Paris.                                 
 
 
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Transcript (May be auto-generated)

                 Around the world, minds were focused on one thing. Traders at Frankfurt's stock 
exchange among those to hold a minute's silence for the victims of the Paris 
attacks. Baader Bank's Robert Halver summed up the mood. France and us, we are 
Europe's engine. It hurts. And we all know the city of love - Paris, of course. 
But the French are French, and they will bounce back. I believe in the heraldic 
motto of Paris: 'Fluctuat nec mergitur', meaning , 'It wavers, but doesn't 
fall'. Stocks didn't waver for long though. The DAX, CAC and FTSE all bouncing 
back from early falls as investors quickly rallied. What losses there were, 
though, were severe. Eurotunnel, Air France and French hotel group Accor all 
down around 5%. As tourism and travel bore the brunt of the fallout. 

The inevitable rush for safe havens also hit the euro. It fell to a 
six-and-a-half month low against the yen, and close to that mark against the 
dollar. But CCLA's James Bevan says the impact won't last long. Experience from 
previous outrages around the world suggest that there will be a short term 
negative impact as people decline to visit in anticipation that they need to see
what happens next. However, experience also demonstrates that over the long run,
people get back to business as usual remarkably quickly. For now, at least, it 
is anything but. And as France retaliates, the ripple effect spreads. A wave of 
air strikes in Syria lifting oil prices off last week's six-year low. A rise of 
1.5% making energy stocks the leading gainers