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Travel shares led European shares lower on Friday, after a deadly attack in France.
EasyJet Plc, Air France-KLM Group and hotel operator Accor SA fell at least 2.1 percent, dragging travel and leisure shares to the worst performance on the Stoxx Europe 600 Index. The benchmark lost 0.3 percent at 8:17 a.m. in London.
At least 80 people were killed and about 20 critically injured in the coastal city of Nice when driver plowed into a late-night crowd on Bastille Day with his truck. The assault is the third major terrorist attack in France since January 2015. While stocks are falling today, history has shown that such reactions tend to be short-lived. Past incidents such as Madrid’s train bombings in 2004 and London’s 2005 blasts had spurred selloffs in equities that were erased days or weeks later.
Before today, the Stoxx 600 climbed in three of the past four sessions as optimism grew central bankers will act to limit the fallout of Britain’s vote to leave the European Union, uncertainty over U.K. leadership eased and earnings reports beat estimates.
The benchmark is heading for a weekly advance of 3.1 percent. It’s still trading below its level on the day of the referendum, even as global stocks erased their Brexit losses earlier this week.
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©2016 Bloomberg L.P.
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