European shares pause after 5% surge, Iran tensions weigh
Reuters
Published Jun 21, 2019 08:22
European shares pause after 5% surge, Iran tensions weigh
(Reuters) - Rising tensions between the United States and Iran helped halt European stock market gains on Friday after a strong run driven by signals from major central banks that they are on the verge of more action to prop up a slowing global economy.
The New York Times reported on Friday that U.S. President Donald Trump had approved military strikes against Iran in retaliation for shooting down a U.S. drone, before pulling back from launching the attacks.
That drove Asian stock markets lower overnight and kept the pan-European STOXX 600 index, up nearly 5% so far this month, flat at opening.
The telecom sector was an outperformer, up 0.4% after Telecom Italia (MI:TLIT) signed an agreement that opened the door to talks on integrating its fiber optic network with that of smaller rival Open Fiber, including a possible merger.
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Written By: Reuters
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