EquitiesJul 18 2014

Markets move lower on geopolitical turmoil

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European stockmarkets have all moved lower in early trading as the consequences of the Malaysian airliner crash in Ukraine yesterday continue to develop, while Israel’s decision to launch a ground offensive against Hamas has also added to investor caution.

The FTSE EuroFirst 300 slipped 0.45 per cent to 1,357.04 at 8.23am while the FTSE 100 dropped 0.53 per cent. In continental Europe markets have had the same reaction with Germany’s Dax index slipping 0.67 per cent and the Cac 40 in France slipping 0.3 per cent.

Russia, who along with Ukraine is at the centre of yesterday’s airliner disaster, has seen the Micex index drop 1.44 per cent at 11.44am local time, while the TA-100 index in Israel is only slightly lower by 0.07 per cent.