European Stocks Lose Steam on Fear of Middle East Escalation [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — European stocks trimmed gains late in the afternoon as Axios reported that Israeli Defense Minister Yoav Gallant said Israel had no choice but to retaliate against Iran. 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. Article content Article content “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
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