European markets opening lower as U.S. launches missiles at targets in Syria

European Markets

Bourses in Europe are expected to open lower on Friday morning after the U.S. launced cruise missiles against a Syrian air base, raising concerns of an escalating conflict in the region.

The FTSE 100 is set to open 26 points down at 7,278; the DAX is seen off by 72 points at 12,163 and the CAC 400 is expected to open 27 points lower at 5,095.

Investors bet on safe-haven bonds during Asian trade, raising the value of the Japanese yen and lowering the value of the U.S. dollar, amid the geopolitical volatility. U.S. President Donald Trump said that he ordered the strike against an airfield which a deadly chemical attack took place earlier this week. Russian forces were notified of the strike in advance by the U.S. according to the Pentagon in a statement.

In Europe, the frontrunner to the French presidential election, Emmanuel Macron, said that there should be an international military intervention against the Syrian regime if it is proven that it is using chemical weapons.

On Friday's calendar is the release of the latest United Kingdom Halifax house price index at 8.30 a.m. London time. Mark Carneyn the governor of the Bank of England is due to speak at 10 a.m. London time. Euro zone finance ministers are meeting in Malta, where the Greek bailout is will appear to be the where most of the focus of the talks will be. Elsewhere in Italy, bank governors will be talking at an event.


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