💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Europe shares slip on N.Korea shelling, Ireland

Published 11/23/2010, 03:10 AM
Updated 11/23/2010, 03:11 AM

LONDON, Nov 23 (Reuters) - European shares fell for a third straight session on Tuesday on investor jitters after North Korea fired dozens of artillery shells at a South Korean island and Ireland's bailout failed to calm markets.

At 0805 GMT, the FTSEurofirst 300 index of top European shares was down 0.5 percent at 1,088.54 points after falling 0.8 percent in the previous session.

"There is a cocktail of concerns keeping investors occupied and Korea and Ireland are ahead in the list," said Keith Bowman, equity analyst at Hargreaves Lansdown.

"Asia is very much seen as the growth region. The one thing the markets don't want to see is any sort of war going on in that region."

Investors kept a close eye on Ireland, which began two weeks of political manoeuvring as the government dares the opposition to block an austerity budget on which a multi-billion euro EU/IMF bailout is riding. The markets are not convinced that aid to Ireland would prevent some other heavily indebted EU members from seeking help.

Miners featured among the top losers, tracking a sharp decline in metals prices on tensions in the Korean peninsula. The STOXX Europe basic resources index fell 1.3 percent, while BHP Billiton, Antofagasta and Xstrata fell 1.4 to 2.3 percent.

(Reporting by Atul Prakash; editing by Simon Jessop)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.