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European stocks open mostly lower after Paris attacks; Dax down 0.30%

Published 16/11/2015, 07:34 pm
© Reuters.  European stocks slide lower as Paris terrorist attacks weigh

Investing.com - European stocks were mostly lower on Monday, as global markets weighed the potential consequences of a series of terrorist attacks that took place in Paris on Friday night.

During European morning trade, the EURO STOXX 50 fell 0.25%, France’s CAC 40 declined 0.33%, while Germany’s DAX 30 slid 0.30%.

A string of coordinated terrorist attacks in Paris on Friday night left 129 dead and hundreds injured. "Islamic State" (ISIS) claimed responsibility for the attacks.

Later Monday, political leaders were expected to discuss ways to escalate the war against terrorism and deal with the migration crisis at the annual summit of the Group of 20 nations (G20) in Turkey.

French stocks were most notably hit by the Friday attacks. Hotel chain Accor (PA:ACCP) SA saw shares plunge 6.93%, while Kering (PA:PRTP), who shut some of its stores like Gucci and Bottega Veneta over the weekend, plummeted 1.97%.

Financial stocks were also broadly lower, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) lost 0.82% and 1.21%, while Germany's Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) retreated 0.90% and 0.93%.

Among peripheral lenders, Italy's Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) dropped 0.51% and 0.81% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) slid 0.48% and 0.46%.

Elsewhere, Sonova H Ag (VX:SOON) dove 6.43% after the maker of hearing aids cut its annual sales and profit forecasts.

In London, commodity-heavy FTSE 100 added 0.16%, helped by sharp gains in the mining sector.

Rio Tinto (L:RIO) advanced 0.89% and Fresnillo (L:FRES) jumped 1.41%, while Glencore (L:GLEN) and Randgold Resources (L:RRS) surged 2% and 2.48% respectively.

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Premier Oil (L:PMO) added to gains, with shares soaring 5.23% after selling its Norwegian assets to Det Norske.

Meanwhile, U.K. lenders were mostly lower. Shares in Barclays (L:BARC) edged down 0.11% and Lloyds Banking (L:LLOY) fell 0.21%, while the Royal Bank of Scotland (L:RBS) declined 0.58%. HSBC Holdings (L:HSBA) held steady, inching up just 0.06%.

In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.06% downtick, S&P 500 futures signaled a 0.01% dip, while the Nasdaq 100 futures indicated a 0.06% loss.

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