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10/9/2023, 9:03 AM (Source: TeleTrader)
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Europe opens mostly red amid Middle East turmoil

Stock exchanges in Europe opened mostly lower on Monday as the conflict in the Middle East entered its third day with both sides reporting hundreds of casualties after the Palestinian militant group Hamas launched an attack on Israel over the weekend.

The boiling tensions in the region sent the crude oil prices to rise up to 5% overnight, with investors seeking refuge in safe-haven assets amid the unfolding political turmoil.

The Euro Stoxx 50 declined 0.42% and Frankfurt's DAX fell 0.57% as BASF SE tumbled 2.88%. The CAC 40 dropped 0.35% with Renault SA losing 1.19%. London's FTSE 100 added 0.16% as BAE Systems plc rose 4.35%.

The euro slipped 0.49% against the dollar, selling at 1.05393 at 9:02 am CET. The pound slid 0.46% versus the greenback, trading at 1.21841.

Baha Breaking News (BBN) / AB