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Market Update

Markets Hold Firm and Take Paris Attack In Stride

Author: Lucy Stoeva
Last Update: 9:48 AM ET November 16 2015

4:00 PM Frankfurt European stock markets showed resilience after the terrorist attacks in Paris. Euro zone annual inflation rate increased to 0.1% in October. Accor led the declining tourism sector stocks. Diploma surged 17% on the rising annual income. Keller Group soared on positive outlook.

Stock markets in Europe opened lower on Monday in the aftermath of the tragic events in Paris that killed more than 130 people. By midday, however, investors regained confidence and the major bourses recovered.

In a preliminary estimate, the annual inflation rate in the euro zone rose to 0.1% from the decrease of 0.1% in September.

In the wider region of EU28, annual inflation rate was zero in October from the decrease of 0.1% in September.

In the same month a year ago, the inflation increased 0.5%, the Statistical Office of the European Communities said.

In London trading, FTSE 100 index gained 20.04 or 0.3% to 6,138.88 and in Frankfurt the DAX index rose 14.43, or 0.13%, to 10,722.23.

In Paris, CAC 40 index slid 6.66, or 0.14%, to 4,800.50.

Travel, leisure, and luxury stocks led the decline after multiple terrorist attacks in Paris killed at least 150 people.

Tourism sector stocks fell after investors worried that the tightened travel regulations and lower consumer confidence will drag down tourist arrivals.

Accor SA, the France-based luxury hotels operator, plunged 4.9% to 39.47, while Air France-KLM SA fell 6.92% to 6.32.

In the UK, Diploma Plc surged 17.2% to 712.78 pence after the technical products and services provider said revenues in the year ending in September jumped 9% to 333.8 million, as compared to the previous year.

Profit in the year increased 4% from a year ago to 37.4 million and diluted earnings per share rose to 32.5 pence from 31.4 pence.

Keller Group Plc jumped 5.1% to 831 pence after the engineering contractor said it expects in the second half of the year construction markets in the U.S. to grow steadily, in Europe to remain stable, while the outlook in Australia shows no sign of improvement.

Majestic Wine Plc gained 1.9% to 316 pence after the U.K.-based wines, beers and spirits retailer stated sales in the first-half ending on September 28 soared 36% from a year ago to 181.6 million.

Profit in the year tumbled 50% from a year ago to 4.3 million and diluted earnings per share declined to 2.7 pence from 9.8 pence.

Schroder Real Estate Investment Trust Ltd rose 0.6% to 59.87 pence after the U.K.-based real estate developer said pretax profit in the first-half dropped to 23.1 million from 36 million in a period a year earlier, due to lower valuation.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc