European markets are treading carefully on Wednesday morning, but have seen small gains, as the continent continues to react to the devastating terrorist attacks which hit the Belgian capital Brussels on Tuesday, killing more than 30 people.
Shares across Europe plunged early on Tuesday after news of the attacks, but recovered by the close. On Wednesday movements on an index by index basis have been limited so far, but all major indexes are in positive territory soon after the open. Here's how things look at 8:05 a.m. GMT (4:05 a.m. ET):.
- Germany's DAX — up 0.76%
- Britain's FTSE 100 — up 0.18%
- France's CAC 40 — up 0.56%
- Spain's IBEX 35 — down 0.54%
- Italy's FTSE MIB — up 0.58%
- Belgium's BEL 20 — up 0.75%
- Euro Stoxx 50 broad index — up 0.74%
Shares in European airlines and hotel groups, which tumbled on Tuesday following the attacks, have rebounded and are largely in positive territory, although only just. Here's how shares in Air France KLM, the owner of the French and Dutch national airlines, look on Wednesday morning:
Accor — the French listed hotel firm which operates, amongst other things Ibis, Novotel, and Sofitel hotels — lost as much as 4% of its market value on Tuesday, but like airline stocks, has rebounded a little:
While markets haven't seen a big hit after the Brussels attacks, the Belgian economy could suffer in the short term, according to Francesca Peck, an economist from IHS Global Insight. Peck said in an emailed statement:
The terrorist attacks of 22 March are expected to have a short-lived negative impact on the Belgian economy, namely by hitting consumer spending on recreation and leisure as well as tourism to the popular destinations of Brussels and Bruges. The sharpest impact will occur in Brussels, with second-tier effects likely elsewhere, particularly in the event of extensive police activity that extends beyond the capital, and the perception that Belgium as a whole is under attack.
Join the conversation about this story »
NOW WATCH: The real estate trick billionaires use to sell their penthouses faster and for more money
