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  • Editor’s Picks / 16 November 2015 at 10:58 GMT

    Airline, luxury stocks hit hard by Paris attacks

    Bloomberg
    Last Friday's terrorist attacks on Paris have seen markets respond with a broad-based move towards risk-aversion, but sectors linked to tourism and consumer spending have been hit the hardest. According to Mirabaud analyst John Plassard, “hotels, restaurants, travel agencies as well as other companies in the tourist industry will see a drop in demand, in France but also in other countries targeted by Islamic State". The list of countries potentially targeted by IS, of course, is a long one as Russia, the US, and many European states are involved in the struggle against the terror group in Syria and Iraq. This morning's trade has seen Air France-KLM Group drop by 5%; hotel operator Accor SA slumped 6.2%; Aeroports de Paris lose 4.4%; and Hermes International SCA sink by 2.7%.
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