EUROPE MARKETS: European Stocks Slip, With Travel Shares Down After Deadly France Terror Attack
By Carla Mozee, MarketWatch
Travel stocks slump after terror attack in Nice
European stocks slipped Friday, with travel shares lower after a deadly terrorist attack left more than 80 people dead in Nice, France.
The Stoxx Europe 600 shed 0.2% to 337.92, but losses were limited by gains among financial, utility and telecommunication shares.
Near the bottom of the index was France's AccorHotels SA (>> ACCOR), whose brands include Fairmont and Ibis, and airline EasyJet PLC (>> easyJet plc). Shares fell 3.2% and 2.1%, respectively, following Thursday night's killing of at least 84 people in Nice (http://www.marketwatch.com/story/truck-plows-into-crowd-killing-dozens-in-nice-france-2016-07-14). A truck driver barreled through Bastille Day revelers who were gathered at the Promenade des Anglais in Nice.
French President François Hollande (http://www.marketwatch.com/video/france-extends-state-of-emergency-after-truck-attack/8B8E5A12-355D-4C56-879E-BCD817ED29AC.html) said the scene had "undeniable traits of terrorism," and he extended the country's state of emergency that's been in place since the Paris terrorist attacks in November.
Also trading lower was travel services provider Thomas Cook Group PLC (>> Thomas Cook Group plc), down 1.4%. But shares of British Airways parent International Consolidated Airlines PLC (>> International Consolidated Airlns Grp SA) turned higher, rising 0.7%.
France's CAC 40 fell 0.2% to 4,375.81. The euro was buying $1.1132 compared with $1.1123 late Thursday.
In other developments, shares of Swatch Group AG (>> The Swatch Group SA) (>> The Swatch Group SA) fell 12% as the Swiss watchmaker said it expects a 12% decline in first-half net sales (http://www.marketwatch.com/story/swatch-sees-first-half-sales-drop-on-weak-demand-2016-07-15) because of weaker demand.
Indexes: Switzerland's SMI fell 0.3% to 8,145.97 while Germany's DAX 30 edged up 0.1% to 10,075.84.
Italy's FTSE MIB rose 0.1% to 16,809.53 and Spain's IBEX 35 picked up 0.1% to 8,559.20.
The U.K's FTSE 100 shed 0.1% to 6,645.72.