European Stocks Pare Losses But Tension Remains After Airstrike

Frankfurt (April 7)  European stocks pared losses an hour after the opening bell with London's benchmarks flat due to a hefty weighting toward gold and oil, while markets in Paris and Frankfurt also calmed.

U.S. futures were pointing to a modest fall when markets open, with Dow Jones Industrial Average mini down 0.06% and S&P mini futures were trading 0.10% lower.

Despite the bounce, tension continued to hang in the air as Russia began calling for a United Nations Security Council meeting, after already having described President Donald Trump's overnight attack on a Syrian airbase as a violation of international law and an "act of aggression."

London's FTSE 100 was broadly unchanged at 09.10 BST, quoted at 7,301, while the mid-market FTSE 250 index was up by 0.08% to 19,141.

In Frankfurt the DAX was down by 0.53%, quoted at 12,165, while the CAC 40 index was 0.33% lower at 5,104 in Paris. Benchmarks in Southern Europe, such as Madrid's IBEX and Milan's FTSE MIB, were both down by nearly 0.5%.

The spot price for gold was quoted at $1262.42, up 1.03%, while the European Brent crude oil benchmark was 1.51% higher at $55.72.

In individual stocks, London's biggest pure-play gold miner, Randgold (GOLD) , was at the top of the FTSE 100 with a gain of 2.32% for the session.

However, retailer Tesco  (TSCDY) , Sainsbury (JSAIY)  and life insurer Standard Life (SLFPF) also featured among the top risers, with gains of more than 2% each. Grocery retailers Sainsbury and Tesco both benefited from an upgrade at UBS (OUBSF) .

Source: TheStreet