When trading stocks online or physically, it is always important to watch out for adverse events such as natural catastrophes or terrorist attacks since they could affect stock performance significantly. However, while adverse political incidents could reflect on the stocks right away there can still be optimism that enables the stocks to bounce back after a slip up. The Turkish coup is an example of how an adverse situation fails to dampen the enthusiasm of investors.
European Stocks Looked Up
In spite of the averted coup in Turkey that cost 265 lives and threw up a wave of uncertainly all across Europe and the world, European stocks shook off the negativity after the initial shock. As the following week began, the early trade saw European stocks rising. The coup directed against Turkish President Recep Tayyip Erdogan began with a group of soldiers taking over public property with tanks and helicopters. However, Erdogan gave a televised address that was circulated over mobile phones asking people to rush to the streets to support the government. Though that did stop the coup, it came at the expense of 265 lives only a day following the death of 80 people in Nice, France after a drunken truck driver mowed down a group of people.
The performance of the stocks the following week gave an indication of the mild optimism among investors. While Asian markets witnessed mixed results, European investors were more positive. In London, the enterprise software company Sage Group rose 2.6% and rival Micro Focus rose 2.3% while equipment manufacturer Kion Group rose 5.3%. In Frankfurt, Hugo Boss rose 1.4% which was a rebound from the dip on Friday, the previous week when the Nice terror strike took place. Other luxury lifestyle brands were also hit. Kering, which owns luxury brands Gucci and Balenciaga, also gained 1.2%. In Paris, the satellite operator Eutelsat moved ahead by 3.3%. This was the result of the overall gains in the technology sector.
STOXX 600 in the pan-European region gained 0.6%, while the STOXX 50 blue-chip index in the Euro-region gained 0.5%. The DAX index in Germany and London’s FTSE100 each added 0.4% while the CAC 40 index of Paris advanced 0.6%.
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