Grapevine

By Cnbc
Oct 3, 2024

European markets sink at the open as investors focus on Middle East escalation

Smoke rises from a building destroyed by an Israeli airstrike as journalists and local residents visit during a press tour on October 2, 2024 in Beirut, Lebanon.

The pan-European Stoxx 600 was down 0.28% in early deals, with virtually all sectors and most major bourses trading in the red. Mining stocks led losses, down 0.79%, while oil and gas stocks were the sole outlier, adding 0.14%.

European stocks closed mixed yesterday as investors assessed the ongoing conflict in the Middle East and assessed fresh unemployment data in the euro zone that showed unemployment across the euro zone held steady on the month at a record-low 6.4% in August.