Russia, Gaza continue to weigh on Euro stock markets
Tuesday, 22 July 2014
Europe's main stock markets fell for a third day on Monday. Markets have been spooked by escalating tensions between the West and Russia after the downing of a Malaysian airliner last week and Israel’s increasingly ground offensive in Gaza. Frankfurt's main DAX index slipped 1.11 per cent to 9,612.05 points, compared to Friday's closing levels. Earlier it breached 9,600 for the first time in two months. London's benchmark FTSE 100 index closed 0.31 per cent lower at 6,728.44 points, while in Paris the CAC 40 ended the day down 0.71 per cent at 4,304.74. ‘German producer prices were flat in June in another sign that some of the heat was coming out of the German economy and the increased sanctions on Russia, one of its biggest trading partners, are not helping future prospects,’ said Jasper Lawler at CMC Markets. Russia hit back, with a senior military official saying Russian records showed that a Ukrainian Su-25 battle jet had flown close to the Malaysian passenger jet before it crashed.
- Moscow stocks extend losses -
The Moscow stock market sank for a sixth day as investors were alarmed by the escalating crisis in Ukraine and the prospect of tougher sanctions doing more damage to the Russian economy, according to AFP.