29 Mar 2024
Sunday 15 November 2015 - 11:20
Story Code : 188793

Global markets brace for short term hit after Paris attacks

Global stocks are set for a short-term sell-off on Monday after Islamist extrimist launched coordinated attacks across Paris that killed 129 people, but analysts said a prolonged economic impact or market reaction was unlikely.

President Francois Hollande has declared a state of emergency, ordering police and troops into the streets, and set three days of official mourning after the attacks he called an act of war by ISIS.

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The carnage prompted condemnation by world leaders and outpourings of support for Parisians from around the globe, but would likely have only a knee-jerk impact on investment decisions, said Shane Oliver, chief economist at Australias AMP Capital in Sydney.

History will tell us that if the economic impact is limited
- and I think it will be - that markets will quickly recover and go on to focus on other things, Oliver, who is also head of strategy at the wealth management firm.

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