European shares steady after US-led strike on Syria; WPP falls
Milan: European shares steadied near 4-week highs on Monday as investors expected there would be no immediate escalation in Syria following the weekend’s U.S.-led strike.
The pan-regional STOXX 600 index was down 0.05 percent by 0715 GMT, while other European benchmarks were also little changed. Euronext said price levels for the CAC and other indexes were not available for technical reasons.
“Saturday’s operation... was a limited one, and intended to be a one-off as President Trump declared ‘mission accomplished’. Many feared the attack would probably lead to a broader confrontation, but the conducted strike was not strong enough to bring Russian retaliation,” said Hussein Sayed, Chief Market Strategist at FXTM.
Caution however dominated as tensions between Western powers and Russia persisted.
On the corporate front, shares in WPP (WPP.L) fell 2.3 percent after chief executive and founder Martin Sorrell quit, leaving the group without a boss at a time of huge change in the industry.
Top STOXX gainer was Whitbread (WTB.L), up 6.3 percent after U.S. activist investor Elliott Management said it now held the largest stake in the coffee-shop operator.
Software AG (SOWGn.DE) was among the leading fallers, down 4.2 percent. Traders said the fall was due to weaker-than-expected quarterly revenues at its Digital Business Platform business.
Safaricom has suffered a voice and data outage affecting critical transmission equipment because of a damaged fibre link, Kenya’s biggest telecoms company said.
Rahul Gandhi today alleged there was certainly a "scam" in the controversial Rafale jet deal with France and accused Defence Minister Nirmala Sitharaman of doing a "flip-flop" on the secrecy clause.
Arvind Kejriwal announced that financial assistance for Resident Welfare Assocations (RWAs) and NGOs registered with the Delhi Parks and Gardens Society (DPGS) for maintenance of parks and gardens would be doubled from Rs 1 lakh to Rs 2 lakh.
U.S. director of intelligence Dan Coats said he in no way meant to be disrespectful toward President Donald Trump with what he called his “awkward response” to news of a second planned Trump summit with Russian President Vladimir Putin.
Volkswagen is renting parking spaces from August to stockpile vehicles which cannot be sold due to bottlenecks caused by new engine emissions tests, a spokeswoman said
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.