European Stock Markets Open Cautiously, Awaiting Fallout of Drone Attacks
Arslan Butt • 1 min read
European stock markets are trading cautiously on Tuesday open as markets await the potential fallout of the weekend drone attacks on Saudi oil facilities. In the UK, FTSE is trading at around 7340, at the time of writing.
After US stock markets closed lower on Monday, during the Asian session as well, stock markets had traded lower over worries that these attacks could escalate geopolitical tensions in the Middle East. On Monday, Trump had pointed the finger on Iran, but added that he was not keen to pursue military action in retaliation of the attack.
European stock markets are also trading under pressure as a result of the Brexit uncertainties plaguing the markets lately. After a somewhat disappointing meeting between UK PM Boris Johnson and EU officials, there have been no developments towards a new Brexit deal so far. The impasse on Brexit continues with the EU stating that Johnson had no serious alternatives planned to resolve the Irish backstop issue.