Investment market update
UK stocks have opened lower this morning, as a sense of uncertainty remains in Europe following yesterday’s terrorist attack in Belgium.
Stocks fell across the globe following the terrorist attacks in Brussels. Travel shares in Europe lost 2.9% as a group. Gold and the dollar saw a spike in demand as investors turned to traditional safe havens to avoid the volatility. Stock markets in Europe did however recover from earlier losses. In Germany the Dax index closed 0.4% higher and the UK and France closed little changed.
French economy minister Emmanuel Macron says EDF will now make a final investment decision on the Hinkley Point nuclear reactor in early May. A decision on the £18bn nuclear plant had widely been expected on 30 March. EDF, which is 85% French state owned, has yet to outline how it will fund the project.
Sports Direct International Plc said full-year earnings will be at or near the lower end of an already reduced forecast range, another blow for the ailing retailer. The stock fell 11% Tuesday. In January, Sports Direct said it may miss a previous forecast of £420 million, citing deteriorating conditions for UK store operators and the unseasonably mild weather that has also hindered the likes of Next Plc and Marks & Spencer Group Plc.