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European indices crash after Brussels terrorist attacks

The Belgian television channel VRT said that 17 people were killed and 35 were injured after the explosions at the airport in Brussels. Also, there is information about the explosions in Brussels’ metro near the EU institutes. At the moments, it is known that 10 people died. The terrorist attacks in Brussels sharply reduced the appetite for risk assets. Stock exchanges are traded in the red zone. We have a situation where the surge of geopolitical tensions is overlapped by the reduced market liquidity because of the Catholic Easter as well: the next weekend will be extended by one day.

On Tuesday, the British FTSE 100 index fell by 0.75 percent due to decreased tourism and recreation shares due to the news of the terrorist attacks in Brussels. The index of the tourism sector as well as the leisure FTSE 350 dropped by 1.50% whereas the shares of IAG and EasyJet dropped by 3.5% and 1.9%. Traders switched to safe assets which allowed gold prices to grow. Securities of Fresnillo and Randgold, companies engaged in the extraction of precious metals, rose in price by 1.1 and 0.6 percent respectively.

The index of the Belgian stock exchange dropped by 1.04%. the index of the largest enterprises Stoxx Europe 600 dropped by 1.3% to the level of 336.5 points. Euro Stoxx 50 lost 1.4%, the British FTSE 100 lost 1.1%, the French CAC 40 -1.3% and the German DAX -1.5%. Despite the fact that, currently, indices started to grow the trades remain in the “red zone”.

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