Stock markets shake off fear and worry of Paris attacks to close higher Monday
Stock markets opened lower in the first trading day following militant attacks in Paris that left more than 120 people dead before rebounding later in the day.
The Stoxx 50 index of leading European shares was down 0.2 per cent, while the CAC-40 index in Paris was only 0.4 per cent lower.
Connor Campbell, financial analyst at Spreadex, said there is "no sign of the panicked trading that could have been justifiably expected."
Travel companies lower
Unsurprisingly, stocks within the travel and tourism sector were down, led by French hotel chain Accor, whose shares were off by 5.5 per cent. Aeroports de Paris, the company that owns Charles de Gaulle, Orly and other airports, was down by the same amount, and Air France lost five per cent.
Shares in Eurotunnel, the company that owns and operates the Channel Tunnel between England and France, were also five per cent lower.
Elsewhere, travel agencies such as Germany's TUI and Britain's Thomas Cook were also lower.
"People in France are in shock. They are not doing much shopping, and that could last for a few days," Petromatric consultancy's Olivier Jakob said.
"The rest of the world is not as deeply affected to change consumer behaviour," Jakob said, adding that the bearish impact of the Paris attacks would likely be short-lived.
In North America, stock markets performed better, with the TSX up almost two per cent to 13,308. The Dow Jones also rallied, gaining 200 points to close at 17,483.
Oil prices briefly rose on speculation that supply could be impacted by an escalation in attacks on oil facilities controlled by ISIS across the Middle East.
The main WTI contract closed at $42.06 US a barrel, up $1.32 on the day.
