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European Factors to Watch-Shares to dip as Syrian crisis saps appetite
August 29, 2013 / 5:27 AM / 4 years ago

European Factors to Watch-Shares to dip as Syrian crisis saps appetite

LONDON, Aug 29 (Reuters) - European stocks are seen opening slightly lower
on Thursday, extending losses into a fourth day as uncertainty surrounding
possible military action against Syria and its impact on the Middle East keeps
buyers on the sidelines.    
    Financial spreadbetters expect Britain's FTSE 100 to open 3 to 6
points lower, or as much as 0.1 percent, Germany's DAX to open 12 to 18
points lower, or as much as 0.2 percent, and France's CAC 40 to open 2
to 7 points lower, or as much as 0.2 percent.
    U.S. President Barack Obama made the case on Wednesday for a limited
military strike against Syria in response to last week's chemical weapons
attack, but he faced obstacles with British allies and U.S. lawmakers that could
delay any imminent action. 
    The euro zone Euro STOXX 50 index has fallen 4 percent in the
past two weeks, weighed down by expectations of a dialling back in U.S. monetary
stimulus, political tensions in Italy and escalating tensions in the Middle
East, which have boosted oil prices this week.
    "The threat of the (stimulus) taper, Syria and soaring energy costs...have
all combined to put huge amounts of uncertainty into the heads of traders at the
moment," Jonathan Sudaria, a dealer at Capital Spreads, said in a trading note.
    "With so much uncertainty hang over markets at the moment, it's only the
most optimistic rose-tinted-glasses-wearing bulls that are getting long at the
moment."
    Among single stocks, Vodafone Group was likely to be in focus on a
report the British-listed telecoms heavyweight is in advanced talks to sell its
stake in a U.S. joint venture to local partner Verizon Communications for
about $130 billion.  
  
  > GLOBAL MARKETS-Asian shares rise, Syria worries cap gains     
  > Wall St rebounds as energy stocks rise over Syria             
  > Nikkei rebounds on weaker yen, set to end 3-day losing run    
  > U.S. bond prices dip after 3 days of gains                    
  > Yen off three-week highs but markets still cautious on Syria  
  > Gold eases after 5-day rally, Syria eyed                      
  > London copper drifts as dollar rises                          
  > Brent falls below $116 after 2-day surge

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