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European stocks fall after Brussels explosion

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Investors flocked to safe-haven assets after explosions in Brussels, sending travel and tourism stocks lower on major bourses across Europe.

    At the time of writing, the blue chip Stoxx 50 index traded 0.70% lower on the day. Belgium’s benchmark index BEL 20 was down 0.40%. Germany’s DAX was down 0.50% and France’s CAC was down 0.90%. UK’s mining heavy FTSE traded 0.80%.

    Explosions tore through the departure hall of Brussels airport, and a separate blast hit a metro station of the capital city. The news sent shockwaves across financial markets, with investors running for cover away from risk assets.

    Shares in Thomas Cook tanked more than 7% along with an 8% drop in Sports Direct. Shares in Air France KLM were down 4.4% as well.

    The positive data releases across Europe were largely overshadowed by Brussels terror attacks news. Growth in Germany’s private sector was steady in March, also helped by a solid upturn in the services industry. Meanwhile, French private sector activity expanded in March at the fastest pace in five months.
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