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European stocks dive deep in the red, ignore Ifo

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The stocks on the European bourses had a negative start on Tuesday and dived deeper in the red as a renewed bout of risk-aversion hit the markets after the Russian plane was shot down by Turkey near the Syrian border on air-space violation issues.

    The plane crash news brought global security concerns back in focus, with the airline stocks badly hit on travel alerts.

    Aircraft stocks tanked with the British easyJet falling 4%, while Air France-KLM lost 2.89% in Paris. Deutsche Lufthansa declined 2.78% and Ryanair fell over 1%.

    Meanwhile markets completely ignored impressive German Ifo surveys as growing worries over Middle-East after the plane crash news dented investors’ sentiment. The headline Ifo Business Climate Index rose to 109 in Nov, above the 108.2 booked in October. The current assessment sub-survey rose to 113.4 points, after the previous month's figure of 112.7 and above estimates of 112.4 points.

    During mid-European trades, Germany’s DAX loses -1.24% to 10,951 points, while the UK’s FTSE drops over 1% to 6,236. Among the other indices, the French CAC 40 declines -1.75% to 4,803. While the pan-European Euro Stoxx 50 index declines -1.58% to 3,398 points.
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