As France continues to mourn, the country’s stock exchange Euronext Paris was set to open as normal on Monday — although under heightened security.
“Markets will open as normal at Euronext on Monday,” Caroline Nico, the spokeswoman for Euronext, told CNNMoney in an email. “Our priority is the safety of our staff and there will therefore be extra security in place in Paris on Monday,” she added.
More than 120 people were killed in a series of coordinated terrorist attacks late Friday night. It was the worst terrorist strike France has experienced since the World War II.
French stocks trading in the benchmark Paris CAC were up 12.5% so far this year when markets closed on Friday.
That was just hours before the attacks.
Some of the biggest French companies trade on the exchange, including Air France, LVMH, AXA, BNP Paribas, Societe Generale, L’Oreal, Carrefour, and Total.
Analysts warned the French economy might suffer, at least in the short term, after the attacks. Stocks could be knocked off balance.
“The truly awful events in Paris could certainly have a significant negative impact on consumer confidence in the near term at least — obviously primarily in France but also elsewhere in Europe,” said Howard Archer, the chief European economist at IHS.
The French economy grew just 0.3% in the third quarter, after stagnating in the second quarter.
Tourism, a major source of revenue for Paris, could also suffer in the wake of the attacks. Paris is the world’s third most popular city for tourists.
Markets in the Middle East dropped sharply in Sunday trading. The Saudi Arabia Tadawul index dropped 2.8%, while Dubai DFM closed 3.7% lower. Egypt’s benchmark EGX index lost 4.2% on Sunday.
