European Bourses Fall Amid Speculation of A Strike on Syria

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European stocks slumped again as speculation heated up that there will be a military strike on Syria.

The U.S. and its allies are working towards a military strike against Syria in response to an alleged chemical weapons attack near Damascus last week. President Barack Obama plans to release an intelligence assessment this week and U.K. Prime Minister David Cameron said Britain will put forward a draft resolution at the United Nations on Wednesday authorizing action to protect civilians.

Around the region, GfK's forward-looking consumer sentiment indicator for Germany declined to 6.9 points in September from 7.0 points in August, falling short of a forecast made by economists of a slight increase to 7.1 points. It was the first drop in eight months.

Private deposits from non-banks at Cypriot institutions fell by just under 1 billion euros ($1.34 billion), or 2.4%, to EUR36.66 billion in July. They have now lost over a quarter of all their private deposits in the last year, despite the imposition of capital controls, as part of the bailout deal, to protect their deposit base.

German leader Angela Merkel has blamed her Social Democrat predecessor Gerhard Schroeder for letting Greece adopt the euro, saying the country's entry into the single-currency bloc is at the root of the euro zone's current problems

In ADR news, Alcatel-Lucent ( ALU ) said Jean Raby, a former partner and managing director at Goldman Sachs' investment bank division, will become chief financial and legal officer as of September 1, replacing current Chief Financial Officer Paul Tufano.

The FYSE-100 was last down 0.17% at 6,430.06, the DAX down 1.03% at 8,157.9 and the CAC-40 down 0.21% at 3,960.46.



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This article appears in: Investing , Commodities

Referenced Stocks: ALU

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