French Markets Take a Hit After Paris Attacks

European travel and tourism companies have taken a heavy hit as markets react to the Paris attacks that killed at least 129 people on Friday, the BBC reports.

Airline company Air France opened 5 percent lower on Monday, and British Airways owner International Airlines Group (IAG) was down by 3.4 percent. The fall reflected a general trend in French markets, with France's CAC 40 opening 1 percent lower.

The euro, meanwhile, dropped to a six-and-a-half month low against the yen on Monday and dipped by 0.5 percent to $1.070 against the dollar.

Asian markets also took a hit. China's CSI 300, an index comprising the top stocks in Shenzhen and Shanghai, opened 1.7 percent lower, Reuters reports. The Shanghai Composite index lost 0.5 percent, while Japan's benchmark Nikkei 225 index dropped by 1 percent. In Hong Kong, shares fell across the board.

As authorities in France and Belgium continue to identify and arrest suspects in the attacks, some markets are proving more resilient. The UK's FTSE 100 is up by 0.16 percent, and gold and oil also got a small boost.

Even before the Paris attacks, European and U.S. markets were already in decline. On Friday, the UK's FTSE 100 closed at 1.03 percent, a six-week low, and Wall Street had its worst week since August.

Analysts are still uncertain about potential long-term damage to global markets in the aftermath of the attacks.

French Markets Take a Hit After Paris Attacks | Business