World Bulletin / News Desk
Oil prices slid on Monday after US-led strikes on Syria did not provoke an escalation in the conflict, while equities were mixed.
"Even though investors have moved past the Syria missile strikes and are working on the basis that there will be no extended conflict or market-adverse retaliation, equity markets are struggling for direction," noted Interactive Investor analyst Rebecca O'Keeffe.
Crude prices, however, fell back after having run up to highs not seen since the end of 2014 last week as tensions rose ahead of the attack in the tinderbox oil-rich Middle East region.
"The strike on Syrian chemical locations over the weekend marks the end of the recent standoff," noted IG analyst Joshua Mahony.
"Market realisation that this attack largely draws the line under the issue has brought about a sharp decline in oil prices in early trade..."
The commodities-heavy FTSE-100 in London was weighed down as oil prices slid, falling 0.5 percent in afternoon trading.
Shares in BP were down 1.3 percent, which Shell shares gave up 0.6 percent.
The FTSE 100 index also lost ground as the strong pound weighed on the share prices of multinationals earning large amounts in other currencies.
In the eurozone, shares in Frankfurt and Paris were both down around 0.1 percent.
Wall Street opened higher, buoyed by data showing US retail sales rose for the first time in four months. The Dow climbed by 0.7 percent in the first minute of trading.
Sentiment was also boosted by Bank of America beating earnings estimates with first quarter profits rising by a third to $6.5 billion.
"US stocks are adding to last week's advance in early action, with late-Friday's US-led targeted missile strikes in Syria appearing to not exacerbate concerns that they will escalate tensions with Russia and Iran," said analysts at Charles Schwab brokerage.
While there was broad support for the Syria mission, Moscow condemned it as illegal and warned it would provoke "chaos" in international relations.
The Syria crisis, which has seen the West's relationship with Russia grow increasingly frosty, has encompassed other regional players including Iran, Saudi Arabia and Israel, and led to talk of a military standoff.
It also comes against the backdrop of a trade dispute between the United States and China. Many fear this could hammer the global economy if the two sides push through tit-for-tat tariffs on billions of dollars' worth of goods.
Most Asian markets dipped Monday but Tokyo eked out gains.
Turkish economy minister says growth will 'most likely' surpass 7 percent in first quarter of 2018
Net profit at the Frankfurt-based group fell 79 percent year-on-year to 120 million euros ($146 million).
BIST 100 index falls by over 2 percent at close, going down some 2,600 points from previous close
Policy rate, also known as one-week repo rate, remains same at 8 percent; lending rate rises 0.75 percent points
BIST 100 increases 0.29 percent; US dollar/Turkish lira exchange rate stands at 4.0850
Local units operating in manufacturing industry work at 77.3 pct capacity in April, says Central Bank
Public sector net borrowing falls by 3.5 billion pounds in 2017-18 financial year, says Office of National Statistics
Indices for service, retail trade, construction sectors fall in current month compared with March: Official data
Data monitoring company IHS Markit also flagged a slight slowdown in France, where strikes were interrupting a resurgent boom on the back of government reforms.
Treasury reports central government debt stock in March rises around 15 pct year-on-year, reaching nearly $235 billion
Sales to foreigners amounted to 1,827, 15.8 pct rise year-on-year, according to official report
BIST 100 slips 0.15 percent; US dollar/Turkish lira exchange rate stands at 4.0460
BIST 100 rises 0.01 percent; US dollar/Turkish lira exchange rate drops to 4.0250
Fresh hopes that Donald Trump and North Korea's leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism.
The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the belief inflation will remain relatively tame.