European Stocks Lose Steam on Fear of Middle East Escalation [BNN Bloomberg (Canada)]
ADIDAS AG S/ADR (ADDYY)
NASDAQ:AMEX Investor Relations:
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Source: BNN Bloomberg
The Stoxx Europe 600 index ended the day nearly changed, giving up gains of as much as 1% that was built on hopes that there won't be further escalation in the Middle East. Consumer products stocks led gains with Adidas AG jumping after a double upgrade, while the energy sector was the biggest laggard. “For as long as this stays now a once-and-for-all escalation, we should probably get away with some marginal market impact on oil prices, volatility and some safe haven assets,” said Tatjana Puhan, chief investment officer at Copernicus Wealth Management. European nations and the US are calling for Israel not to react aggressively to Iran's attack. French President Emmanuel Macron urged Israel to respond in “a calibrated manner” to avoid an escalation in the hostilities. “Financial markets have been immune in recent years to the increase in international conflicts, starting with the war in Ukraine,” said Luis Buceta, chief investment officer at Creand Wealth Management. Followi
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