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Stocks steady after London attack, U.S. vote looms

Thursday, March 23, 2017 - 01:42

Stocks and sterling hold their ground as markets take the latest European terror attack, this time in London one of the world's financial capitals, largely in their stride. Sonia Legg reports.

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There was tight security across London after the latest European terror attack. But markets in one of the world's financial capitals, largely took the attack in their stride The FTSEurofirst 300 barely budged as London, Frankfurt and Paris started flat. (SOUNDBITE) (English) CRAIG ERLAM, SENIOR MARKETS ANALYST, OANDA, SAYING: "Even the pound yesterday when the event happened. We saw it dip very slightly for a few minutes then it recovered and thereafter ended higher so the impact has been quite minimal so far. Markets are viewing this as an isolated event." The reaction was similar to that which followed recent attacks in France, Germany and Belgium, as well as London and Madrid more than 10 years ago. (SOUNDBITE) (English) CRAIG ERLAM, SENIOR MARKETS ANALYST, OANDA, SAYING: "The concern is always, what kind of impact is it going to have on tourism, are people still going to be willing to come to London. I think it's not going to have too big an impact on tourism. If it becomes a repeated event and we see more attacks going forward then I think it will have a much bigger impact." The dollar crept higher as attention remained on Donald Trump's first significant U.S. policy test. He's looking to gets a healthcare bill passed in U.S. congress. (SOUNDBITE) (English) CRAIG ERLAM, SENIOR MARKETS ANALYST, OANDA, SAYING: "The markets in the last few days appear to be responding very much to Trump's difficulties in passing the healthcare bill which people see as being pivotal when it comes to his other fiscal stimulus plans. The idea being that the money they are going to save on the healthcare bill is going to be used in other tax cuts and infrastructure spending." Trump has been trying to rally support for his plan to repeal the 2010 Affordable Care Act. But some Republicans have demanded changes.

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Stocks steady after London attack, U.S. vote looms

Thursday, March 23, 2017 - 01:42